Donald Trump’s controversial crypto project, World Liberty Financial—which recently raised $14 million in an initial token sale—has plans to create and issue its own stablecoin, sources familiar with the matter told Decrypt. 

The stablecoin, a type of cryptocurrency designed to hold a steady value that is often pegged to the U.S. dollar, is still in development and could take some time to launch. The World Liberty team is still determining how to make the financial product safe before bringing it to market, one source said.

Meanwhile, the team is working concurrently on major project components for World Liberty Financial, including the stablecoin, to ensure such features are ready to launch at the right moment, another source said. 

Recent moves by World Liberty foreshadowed a potential stablecoin venture. Earlier this month, the project announced that Rich Teo, co-founder of stablecoin issuer Paxos, will serve as World Liberty’s stablecoin and payment lead. 

Teo did not respond to Decrypt’s request for comment on this story. Representatives for World Liberty Financial declined comment. 

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Author: Sander Lutz