World Liberty Financial (WLFI), the DeFi platform backed by the Trump family, has officially opened the KYC verification process for its WLFI governance token offering.
While non-US citizens can sign up without meeting income requirements, the platform is inaccessible to most average Americans. World Liberty Financialâs whitelist is limited to US accredited investors as defined by the SEC, which is individuals with a minimum net worth of $1 million or a minimum annual income of $200,000.
The platform, which will offer digital asset lending and borrowing services on the Ethereum blockchain, has implemented a Know Your Customer (KYC) process for the WLFI governance token sale. However, due to SEC regulations, only accredited investors can participate at this stage, leaving many Americans unable to participate in the initial rollout.
To address concerns about limited availability to US customers, the project stated:
âWe intend to make this platform available to all Americans in the future, helping people access tools and opportunities that have been limited for too long.â
The WLFI token is a non-transferable governance token that gives holders voting rights in the World Liberty Financial ecosystem. The platform has allocated 63% of its total tokens for a public sale, giving investors the opportunity to participate in the governance model.
Donald Trumpâs endorsement of World Liberty Financial marks a shift in his stance on digital assets. He has previously been critical of cryptocurrencies, but has now turned supportive of the sector to appeal to a growing base of Bitcoin and blockchain advocates. Earlier this year, he railed against the SECâs crackdown on cryptocurrencies under Chairman Gary Gensler and vowed to push for all remaining Bitcoin to be mined in the United States.
Following the launch of World Liberty Financial, Trump expressed enthusiasm for the project, emphasizing its role in his crypto-friendly agenda:
âI promised to Make America Great Again, this time with crypto. World Liberty Financial is planning to make America the crypto capital of the world!â
