In a surprise move, former US President Donald Trump and his sons have launched a new cryptocurrency platform, World Liberty Financial, without revealing too many details. The ambitious project aims to provide access to decentralized finance, known as DeFi, services, including lending and borrowing cryptocurrencies, using blockchain technology.

During a two-hour online presentation, Trump family members, including Donald Trump Jr., touted the start of a “financial revolution.” They also emphasized their plan to create a stablecoin-backed platform, removing the risk of sudden, drastic price fluctuations associated with digital currencies.

Project linchpins Zachary Folkman and Chase Herro, both established cryptocurrency entrepreneurs, outlined their vision, stating that World Liberty Financial will sell tokens allowing investors to participate in the governance of the platform. Initially, 63% of the tokens will be open to the public, 20% will go to the founding team, and the remainder will serve as rewards for users.

One notable aspect of this undertaking is that Trump’s enthusiasm for cryptocurrency has taken an about-face since his days in the White House, when he described them as a scam. His pro-bitcoin stance is, however, in opposition to the Biden administration, which advocates for regulating the crypto sector.

While specifics around the project’s timeline, pricing, and regulatory clarity remain uncertain, the prospect of World Liberty Financial captivating the masses is clear, as it promises a “platform easily accessible to people.” With DeFi paving the way for direct blockchain-based transactions, it appears that Trump and his son are gearing up to rebrand the former US leader as a champion of emerging financial technology.