World Liberty Financial has taken a significant regulatory step by applying for a US national trust bank charter, signalling its ambition to operate USD1, its dollar-pegged stablecoin, within the core of the American banking system.
The company confirmed that its subsidiary, WLTC Holdings, has submitted an application to the US Office of the Comptroller of the Currency to establish World Liberty Trust Company, a national trust bank. If approved, the structure would allow World Liberty to issue, redeem, and custody USD1 directly, rather than relying on third-party banking and custody partners.
The move places World Liberty Financial alongside a growing group of crypto firms seeking to anchor stablecoin operations inside federally regulated institutions. National trust bank charters do not permit retail deposit-taking, but they do allow firms to offer custody and fiduciary services under a single federal supervisor, a model increasingly seen as attractive for stablecoin issuers targeting institutional clients.
According to the company, the proposed trust bank would support fee-free minting and redemption of USD1 and provide on- and off-ramps between US dollars and the stablecoin. World Liberty says the goal is to create a fully integrated, regulated infrastructure for USD1, designed for use cases such as trading, settlement, and treasury management.
USD1 has already grown rapidly by crypto standards, with the company claiming more than $3 billion in circulation within its first year. The stablecoin is marketed as being backed by US dollar cash and short-term US Treasury assets held at regulated institutions.
World Liberty Financial has also publicly highlighted the filing on social media, reinforcing its message that regulatory compliance is central to its strategy. However, the application now enters what can be a lengthy and uncertain review process. The OCC has broad discretion, and approval timelines can stretch over many months.
For the wider market, the application underlines a clear trend. Rather than waiting for bespoke stablecoin legislation, some issuers are opting to fit themselves into existing US banking frameworks. For regulators, it raises familiar questions about risk, governance, and political optics. For the stablecoin sector, it is another sign that the line between crypto infrastructure and traditional banking continues to blur.
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