Trump-Linked World Liberty Financial Seeks National Trust Bank Charter for USD1 Stablecoin

World Liberty Financial Moves to Expand USD1 Under Federal Oversight

TWorld Liberty Financial announced Jan. 7 that its affiliate WLTC Holdings LLC submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank focused on stablecoins.

The announcement states:

The charter will position WLTC to issue USD1, the dollar-backed stablecoin that has reached over $3.3 billion in circulation in its first year.

The filing outlines plans for World Liberty Trust Company, National Association to consolidate issuance, custody, and conversion activities within a single federally supervised entity. It further notes: “WLTC will also offer digital asset custody and stablecoin conversion services, enabling holders of other stablecoins to move into USD1.”

If approved, the trust company would serve institutional clients, including cryptocurrency exchanges, market makers, and investment firms. Planned services include fee-free minting and redemption of USD1 at launch, U.S. dollar on-ramp and off-ramp functionality, and secure custody with stablecoin conversion at prevailing market rates. Operations are designed to comply with the GENIUS Act and incorporate comprehensive anti-money laundering controls, sanctions screening, segregated customer assets, independent reserve management, and advanced cybersecurity standards under federal supervision.

Read more: Trump-Linked World Liberty Financial Acquires $21.5M in Crypto Ahead of White House Summit

Emphasizing rising institutional demand for compliant, integrated stablecoin infrastructure, proposed President and Chairman Zach Witkoff stated:

Institutions are already using USD1 for cross-border payments, settlement, and treasury operations. A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.

USD1 is fully backed by U.S. dollars and short-duration U.S. Treasury obligations held at regulated depository institutions and funds, and it operates across 10 blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core. Bitgo Chief Executive Mike Belshe said, “Bitgo is proud to have supported USD1’s rapid growth to over $3.3 billion in its first year and looks forward to continuing as a key strategic partner as WLTC becomes fully operational and USD1 enters its next stage of growth.”

FAQ ⏰

• What is World Liberty Financial applying for?
  It is seeking a national trust bank charter from the OCC to support its USD1 stablecoin.
• What is USD1 used for?
  Institutions use USD1 for cross-border payments, settlement, and treasury operations.
• How is USD1 backed?
  USD1 is backed by U.S. dollars and short-duration U.S. Treasury obligations.
• Who are WLTC’s target clients?
  WLTC plans to serve exchanges, market makers, and institutional investment firms.