• Donald Trump announced that his family's cryptocurrency project, World Liberty Financial, will launch on September 16.

• The project aims to move away from traditional banking by embracing cryptocurrencies.

Republican candidate Donald Trump said on a podcast Thursday that his family-helmed decentralized finance (DeFi) project World Liberty Financial will be released on September 16.

“Embracing the future with crypto and leaving slow and outdated big banks behind,” Trump said in a video posted on his X account. “Join me live at 8 P.M.”

World Liberty Finance is helmed by Trump’s sons, Eric Trump and Donald Trump Jr, and the 18-year-old Barron Trump is the project's "DeFi visionary.”

A draft of the World Liberty Financial whitepaper received by CoinDesk shows the project will include a "credit account system" built on DeFi platform Aave and the Ethereum blockchain – to facilitate decentralized borrowing and lending.

Broadcast messages on the World Liberty Finance Telegram channel show plans for stablecoins pegged to the U.S. dollar - stating the project wants to “spread U.S.-pegged stablecoins around the world” to “ensure that the U.S. dollar’s dominance continues.”