World Liberty Financial, a cryptocurrency company partly owned by US President Donald Trump‘s family, will create a bicycle that no one wants.
Co-founder Zach Folkman announced the company’s plans to release two new products:
- Digital asset trading application;
- Cryptocurrency bank card.
Folkman stated that World Liberty Financial’s app will combine the features of Venmo and Robinhood, making it clear that it will be used to send, buy, and sell digital assets. In other words, the software’s functionality will be unremarkable and will be a copy of existing apps.
Zach Folkman
While praising the credit card, Zach said its holders will be able to pay with World Liberty Financial USD (USD1) stablecoins at all businesses that support the Apple Pay payment service. In this regard, the World Liberty Financial card will be inferior to top competitors, such as the card developed by the crypto wallet. Dappradar, which allows you to pay with various stablecoins through both Apple Pay and Google Pay.
Traders are clearly not excited about the plans of Folkman’s firm’s employees. This is evidenced by the fact that the World Liberty Financial (WLFI) token market has continued its bearish trend. Over the past week, the coin’s price has fallen by almost 5%, and cryptocurrency trading volume has plummeted by 38%.