Investing.com —— Investing.com has learned that World Liberty Financial, a cryptocurrency project linked to the family of U.S. President Donald Trump, has established a partnership with the satellite startup Spacecoin.
The collaboration will involve a strategic exchange of digital tokens between the two companies. Both parties stated that this move marks the beginning of their commitment to developing new solutions aimed at integrating decentralized finance (DeFi) technology with satellite internet connectivity.
Spacecoin recently launched three satellites into orbit with the goal of building a system to provide internet access for regions with unstable coverage, censorship, or prohibitively high costs. These satellites will enable users to conduct financial transactions, store data, and perform other operations without needing to go through specific service providers.
In October last year, the company told Reuters that it had successfully transmitted encrypted messages through space, claiming it was an industry first. Spacecoin is seen as a potential alternative to Starlink, a service owned by Elon Musk's SpaceX, whose network architecture is highly centralized within a single entity.
Tae Oh, founder of Spacecoin, said that the partnership with World Liberty helps provide the necessary infrastructure, allowing its users to conduct financial transactions the first time they go online.
The Trump family's flagship crypto business, World Liberty, launched the USD-pegged stablecoin USD1 last year. According to media reports, within the first year of its issuance, the circulation of USD1 exceeded $3.3 billion, partly due to a third-party investor using the stablecoin to purchase $2 billion worth of shares in the crypto exchange Binance.
Zak Folkman, co-founder of World Liberty, stated that the goal of USD1 is to support real-world payment and settlement activities. He added that such collaborations with Spacecoin focus on exploring ways to conduct payments, settlements, and coordination in environments where traditional financial infrastructure may be limited.
Earlier this month, World Liberty said one of its subsidiaries had submitted a banking license application in the U.S., planning to establish a national trust bank focused on stablecoin operations. Meanwhile, several crypto companies have begun seeking preliminary federal regulatory approval to obtain national trust bank status, aiming to strengthen the link between digital assets and the mainstream financial system.
