As World Liberty Launches Debit Card, Trump Family's $5B Stake Raises Conflict Questions

World Liberty Financial, a crypto venture co-founded by members of the Trump family, announced plans to launch a debit card and a retail application “very soon,” according to co-founder Zak Folkman during a panel at Korea Blockchain Week 2025. The products aim to integrate the project’s stablecoin, USD1, into everyday transactions, including Apple Pay compatibility. The retail app is described as merging peer-to-peer transfers with trading features, positioning it as a hybrid of traditional and decentralized finance tools Coindesk, (https://www.coindesk.com/markets/2025/09/23/trump-family-backed-world-liberty-financial-will-soon-launch-debit-card-retail-app)^[1].

The debit card and retail app are part of World Liberty’s broader strategy to expand into consumer markets. Folkman emphasized that the project will remain “completely agnostic” to blockchain protocols, technology, and distribution platforms, rejecting the development of a proprietary blockchain. This approach aligns with the project’s stated goal of bridging traditional finance and on-chain markets The Block, (https://www.theblock.co/post/371766/world-liberty-financial-debit-card-very-soon)^[2].

Separately, World Liberty signed a memorandum of understanding (MOU) with South Korean exchange Bithumb to explore business opportunities, though specifics of the collaboration remain undisclosed. The partnership follows a meeting between Bithumb CEO Lee Jae-won and World Liberty co-founder Eric Trump at Bitcoin Asia 2025 in August. Bithumb, South Korea’s second-largest exchange, ranks 19th globally by trading volume and has listed World Liberty’s governance token, WLFI, since October 2024 Korea Herald, (https://www.koreaherald.com/article/10581517)^[3].

WLFI’s token price has faced volatility, declining 37% since its September 2024 launch and dropping 10.28% in the past 24 hours as of September 23, 2025, to trade at $0.21. Folkman acknowledged market fluctuations but expressed long-term confidence in WLFI’s value, citing the project’s focus on product development and strategic partnerships. The token’s market capitalization reached approximately $5.5 billion after its public trading debut, making it one of the top 30 cryptocurrencies by market cap Forbes, (https://www.forbes.com/sites/zacheverson/2025/09/02/trump-crypto-token-wlfi-world-liberty-financial/)^[4].

The Trump family’s involvement in World Liberty has drawn scrutiny over potential conflicts of interest, given their political influence and the project’s rapid valuation growth. According to public disclosures, family members hold 22.5 billion WLFI tokens, valued at around $5 billion based on a $0.23 price point. However, these tokens remain locked under a vesting schedule, and the Trump family’s stake in World Liberty’s parent company is reported at 38% Fortune, (https://fortune.com/crypto/2025/09/02/trump-world-liberty-financial-crypto-blockchain-token-wealth-bitcoin/)^[5].

The launch of the debit card and retail app represents a strategic pivot for World Liberty, which initially gained attention through its WLFI token and USD1 stablecoin. Folkman’s emphasis on consumer-focused tools reflects a broader industry trend toward mainstream adoption of crypto-based financial services. The project’s partnership with Bithumb and its integration with Apple Pay underscore efforts to align with established financial infrastructure while maintaining blockchain neutrality.