DeFi's 'Venmo Meets Robinhood' Moment as Bithumb Teams with WLFI

South Korean cryptocurrency exchange Bithumb has entered a strategic partnership with World Liberty Financial (WLFI), a decentralized finance (DeFi) project backed by the Trump family, to enhance global DeFi expansion and joint crypto services. The collaboration, formalized through a memorandum of understanding (MOU) signed at Bithumb’s Financial Tower in Seoul, aims to leverage Bithumb’s technical expertise and WLFI’s cross-chain strategy to foster innovation in the DeFi sector. Bithumb CEO Lee Jae-won described the partnership as “an important milestone” for the exchange’s international competitiveness, emphasizing its potential to attract a broader investor base.

WLFI, which launched its USD1 stablecoin in October 2024, has rapidly grown to a $3 billion market valuation, with the token now listed on major exchanges including Bithumb and Upbittitle1^[1]. The stablecoin, backed 1:1 by the U.S. dollar, is expanding across multiple blockchains, including Solana, as part of WLFI’s multi-chain strategytitle2^[2]. The partnership with Bithumb aligns with WLFI’s broader vision of remaining “chain-agnostic,” focusing on cross-platform products rather than building its own blockchaintitle1^[1].

A key component of the collaboration is WLFI’s upcoming retail app and debit card integrated with Apple Pay. Co-founder Zak Folkman described the app as a hybrid of “Venmo meets Robinhood,” combining peer-to-peer payments with lightweight trading tools to drive mainstream adoptiontitle1^[1]. The debit card will enable users to link USD1 directly to everyday transactions, further integrating stablecoins into daily financial activitiestitle1^[1]. Additionally, WLFI has proposed a buyback-and-burn program to mitigate market volatility, supported by over 99% of governance votestitle1^[1].

South Korea, one of the world’s top five crypto markets with a capitalization exceeding $72 billion, remains a strategic hub for the partnership. Bithumb’s collaboration with WLFI follows a meeting between Lee Jae-won and Eric Trump, WLFI co-founder, at the Bitcoin Asia 2025 event in China Hong Kong. The partnership also complements Bithumb’s broader global expansion efforts, including discussions with stablecoin issuer Circle.

While the partnership underscores optimism for DeFi growth, Bithumb has faced regulatory scrutiny in recent months. The exchange recently scaled back its crypto lending services, reducing leverage from 4x to 2x in response to concerns over investor risktitle5^[5]. Despite these challenges, the collaboration with WLFI highlights Bithumb’s commitment to exploring new business models while navigating evolving regulatory landscapes.

The partnership reflects a broader trend of cross-border DeFi initiatives, with WLFI’s USD1 stablecoin already integrated into platforms like Chainlink for multi-chain accessibilitytitle1^[1]. As stablecoins gain traction in payments and digital economies, the Bithumb-WLFI alliance positions itself to capitalize on Asia’s growing appetite for blockchain-based financial tools.