Exclusive: Trump-backed World Liberty partners with satellite startup Spacecoin

Investing.com - World Liberty Financial, a cryptocurrency venture linked to President Donald Trump’s family, has partnered with satellite startup Spacecoin, Investing.com has learned.

The partnership will feature a strategic exchange of digital tokens between the two companies, a move they said marks the start of a push to develop new solutions that bring together decentralized financial technology and satellite internet connectivity.

Spacecoin recently launched three satellites into orbit, as part of a bid to create a system which can provide internet access to places where coverage is unreliable, censored or too pricey.

These satellites would allow users to conduct actions such as financial transactions and data storage without having to go through a specific service provider.

In October, the firm told Reuters that it had successfully sent secured information through space, adding that this was an industry first. Spacecoin has been viewed as a potential alternative to Starlink, a service own by Elon Musk’s SpaceX whose network revolves around one entity.

Spacecoin founder Tae Oh said partnering with World Liberty helps provide the infrastructure needed to allow its users to financially transact when they come online for the first time.

The Trump family’s flagship crypto business, World Liberty launched its dollar-backed stablecoin USD1 last year. During its first year, USD1 circulation reached more than $3.3 billion, due partially to a third-party investor using them to purchase a $2 billion stake in crypto exchange Binance, according to media reports.

World Liberty Co-Founder Zak Folkman said USD1 is intended to support payment and settlement activity in the real world, adding that partnerships like the one with Spacecoin are focused on exploring payments, settlement, and coordination in environment where traditional financial rails may be limited.

Earlier this month, World Liberty said a subsidiary had submitted an application for a banking license in the U.S., as it seeks to set up a national trust bank focused on stablecoin operations. A host of other crypto names have moved to secure preliminary federal regulatory approval for national trust banks, aiming to shore up links with between digital assets and mainstream finance.

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