The agreement with Trump's crypto firm is with the ruling family of the Emirates.

 

A company controlled by the ruling family of the United Arab Emirates has agreed to handle $2 billion in transactions using a stablecoin launched by US President Donald Trump’s sons.

Jack Witkoff, co-founder of the Trump family’s firm World Liberty Financial, made the announcement at a crypto conference in Dubai on Wednesday.

Middle East Eye reported.

“We are pleased to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance,” he said.

Jack is the son of Trump’s Middle East envoy Steve Witkoff.

World Liberty Financial is owned by the Trump family’s corporate entity. However, Jack and President Trump’s son Eric have become the firm’s most prominent face, appearing at crypto events in the Gulf region.

The announcement is a big opportunity for the Trump family’s cryptocurrency startup. It also indicates how deeply the US president's family is involved with the rulers of the oil-rich Gulf region.

Crypto Firm Donald Trump United Arab Emirates