World Liberty Financial — the crypto project backed by President Donald Trump — and Sui Foundation will collaborate

While it's not immediately clear how World Liberty Financial — the crypto project backed by President Donald Trump — and Sui Foundation will benefit

President Donald Trump's administration is making several inroads that could bode well for the crypto industry, especially in the United States.

World Liberty Financial — the crypto project backed by President Donald Trump — and Sui Foundation will be working together, though it's not immediately clear how either organization stands to benefit.

"As WLFI and Sui begin to explore product development opportunities, WLFI plans to include Sui assets in 'Macro Strategy,' its strategic token reserve designed to bolster leading projects," Sui Foundation said in a blog post Thursday.

This is not the first crypto project to align itself with the relatively new decentralized finance platform linked to Trump. Last month, World Liberty Financial and tokenized real-world asset issuer Ondo (NDO) Finance said they would begin working together. The same day, World Liberty Financial co-founder Chase Herro said the platform plans on creating a “strategic reserve” with the tokens it buys.

At the same time, World Liberty Financial bought $470,000 worth of Ondo Finance's token, Bloomberg reported.

After being initially teased by the president's sons Donald Trump Jr. and Eric Trump last August, World Liberty Financial launched in August, ahead of the November presidential elections in which their father emerged victorious.

"We chose Sui for its American-born innovation combined with impressive scale and adoption. It is a natural complement to our mission of bringing decentralized finance to more Americans," said Zak Folkman, co-founder of World Liberty Financial.

Leadership at Mysten Labs, the developer of the Sui Layer-1 protocol, also expressed an eagerness to work with the crypto project linked to President Trump.

"We are thrilled the World Liberty Financial team has agreed to explore collaborations with Sui," said Evan Cheng, co-founder and CEO of Mysten Labs. "We believe that combining our strengths can unlock even greater possibilities for the entire Web3 ecosystem."