World Liberty Financial — a crypto firm with ties to the Trump family — has taken a significant step toward bringing its stablecoin business under traditional federal banking supervision. The company has applied to the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter to launch World Liberty Trust Company via its subsidiary WLTC Holdings LLC. If approved, the move would place issuance, redemption and custody of its USD1 stablecoin inside the long-established trust bank regulatory framework. What the proposed trust bank would do - The application describes a national trust bank dedicated exclusively to stablecoin activity: issuing, redeeming and custody of USD1. It would not provide conventional retail banking or lending services. - Operating as an OCC-chartered trust bank would subject World Liberty Trust Company to federal supervision and the OCC’s trust-bank requirements, including strict asset segregation, independent reserve oversight and regular examinations. - At launch, minting and redemption of USD1 are expected to be fee-free. Services would include conversion between US dollars and USD1, custody for USD1 and other approved stablecoins, and compliance controls such as AML, sanctions screening and enhanced security measures. Why this matters USD1 has scaled quickly since launch, reaching approximately $3.3 billion in circulation within its first year — putting it among the faster-growing stablecoins to date. The token is fully backed by US dollars and short-term US Treasury assets held at regulated financial institutions and is already live across multiple blockchains (Ethereum, Solana, BNB Smart Chain, TRON, Aptos and AB Core). It is also listed on major exchanges including Binance and Coinbase, giving it both retail and institutional reach. Regulatory context and next steps The OCC’s review will be detailed, assessing capital adequacy, compliance infrastructure and risk management systems. If approved, World Liberty Trust Company would initially target institutional clients seeking regulated stablecoin issuance and custody solutions. This application fits within a broader trend of crypto firms pursuing federal banking charters or similar arrangements. In December, the OCC issued conditional approvals to entities including Fidelity Digital Assets, Ripple, Paxos and Circle, and other crypto firms such as Crypto.com and Coinbase have also filed applications. The World Liberty filing is also structured to align with the proposed GENIUS Act, legislation that aims to set national standards for stablecoin issuers operating in the US. In short, World Liberty’s charter bid is another high-profile example of the crypto industry moving to fold stablecoin operations into traditional banking regulation — a development likely to shape how stablecoins are issued, backed and supervised in the United States. Read more AI-generated news on: undefined/news