A fund based in the UAE said on Thursday that it has purchased $100 million of World Liberty Financial tokens, which are part of US President Donald Trump's crypto project.
In a joint statement, Aqua 1 and World Liberty Financial said the investment will help speed up the creation of a blockchain financial ecosystem and stablecoin integration. "We’re excited to work hand-in-hand with the team at Aqua 1,” said Zak Folkman, co-founder of World Liberty Financial.
The purchase makes Aqua 1 one of the largest investors in the Trump family project. The company has also received major backing from crypto billionaire Justin Sun.
Aqua 1 is the second UAE-based firm to back World Liberty Financial in recent months. Abu Dhabi-based technology investment company MGX in May used World Liberty Financial's USD1 stablecoin to make a $2 billion investment in Binance.
“WLFI and Aqua 1 will jointly identify and nurture high-potential blockchain projects together,” said Aqua 1 founding partner David Lee. World Liberty Financial said it also plans to support the launch of the Aqua 1 Aqua Fund, which it said is a UAE-domiciled investment fund dedicated to accelerating the Middle East's digital economy.
Aqua 1 also said it will assist World Liberty Financial to expand across South America, Europe, Asia and emerging markets. Both companies also plan to develop "BlockRock", a real world asset tokenisation platform focused on integrating traditional assets into the Web3 ecosystem.
The National has contacted Aqua 1 for comment.
