World Liberty Financial is taking a significant step forward. The crypto company closely linked to Donald Trump has announced that an affiliated entity, World Liberty Trust Company, has filed an application for a national banking charter with the U.S. regulator. The goal: to become a specialized federal trust bank in stablecoins, with USD1 at the core.
A WLFI trust bank dedicated to issuing USD1 stablecoins
If the application is approved by the Office of the Comptroller of the Currency (OCC), World Liberty Trust Company will be able to issue the USD1 stablecoin directly, pegged to the dollar. The entity would also offer custody and conversion services, allowing holders of other stablecoins to switch to USD1, as well as mint and redemption mechanisms.
The positioning is clearly institutional. According to the press release, the future trust bank would target exchanges, market makers, and investment companies. The aim is to create an integrated offering combining issuance, custody, and conversion under a single federally regulated structure.
A DeFi project closely associated with Donald Trump
World Liberty Financial has direct ties to the U.S. president. Donald Trump is listed as “co-founder emeritus” on the group’s website, while his three sons are listed as co-founders. The company is also partially owned by DT Marks DEFI LLC, a structure owned by Trump and his family.
After the announcement, a spokesperson clarified a crucial legal point: it was not World Liberty Financial that applied for the banking charter, but World Liberty Trust Company, a separate proposed entity with a different ownership and operating structure, albeit sharing a similar branding.
A much more favorable regulatory climate
The OCC has already issued several charters to crypto companies, allowing them to operate federal trust banks. The appointment of Jonathan Gould, chosen by Trump to lead the agency, marked a clear shift towards a more open approach to digital assets.
USD1 as the cornerstone of the project
According to Zach Witkoff, co-founder of World Liberty, USD1 experienced the fastest growth in stablecoin history in its first year. He claims that the token is already used by institutions for cross-border payments, settlement operations, and treasury management.
The banking charter would consolidate these uses within a highly regulated framework. Witkoff specifies that he would become the president and chairman of the trust company if the application is approved.
A broader political and legislative issue
The project comes at a time when stablecoins are now regulated in the United States by the GENIUS Act, signed by Trump last year. Many details are still being defined, including yield management and how it aligns with the upcoming law on crypto market structure, which is set for a vote next week.
