- The proposed trust bank will operate solely within a stablecoin service under the supervision of the OCC.
- USD1 reached over $3.3 billion in circulation within one year of launch.
- The stablecoin is fully backed by U.S. dollars and short-term U.S. Treasury assets.
World Liberty Financial, a crypto-linked company associated with the Trump family, has filed for a national trust bank charter. The move would place its stablecoin issuance and custody activities inside a traditional banking regulatory framework.
Circulation of USD1 expanded rapidly, surpassing $3.3 billion within a year of issuance.
Trust Bank Application
According to a filing with the U.S. Office of the Comptroller of the Currency (OCC), World Liberty Financial has applied to establish World Liberty Trust Company through its affiliate WLTC Holdings LLC.
The proposal outlines a national trust bank designed exclusively for activities related to stablecoins.
The trust bank would be authorized to issue, redeem, and custody the USD1 stablecoin. It would not offer traditional lending or retail banking services.
Instead, it would operate under the long-established OCC trust banking framework, which requires strict asset segregation, independent reserve supervision, and regular examinations.
If approved, World Liberty Financial would operate under the same federal oversight that applies to traditional trust institutions.
Stablecoin Services
World Liberty Trust Company plans to offer three core services under U.S. supervision:
- Minting and redeeming USD1
- Enabling conversion between U.S. dollars and the stablecoin
- Custody of USD1 and other approved stablecoins
At launch, minting and redemption are expected to be fee-free.
All services will comply with anti-money laundering rules, sanctions screening, and enhanced security controls.
The structure is also designed to align with the proposed GENIUS Act, which aims to establish clear federal standards for stablecoin issuers operating in the United States.
USD1 Growth
USD1 has grown quickly since its launch, reaching roughly $3.3 billion in circulation during its first year. This growth makes it one of the fastest-scaling stablecoins to date.
The token is fully backed by U.S. dollar deposits and short-term U.S. Treasury assets held by regulated financial institutions.
USD1 is already active on multiple blockchains, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core.
It is also listed on major exchanges such as Binance and Coinbase, providing access for both retail and institutional users.
Regulatory Path
If the OCC approves the charter, the trust bank will focus on institutional clients seeking regulated stablecoin issuance and custody services.
The OCC’s review process is expected to scrutinize capital adequacy, infrastructure, compliance systems, and risk management frameworks.
The move follows prior steps by U.S. regulators to engage with crypto firms. In December of last year, the OCC issued conditional approvals to companies such as Fidelity Digital Assets, Ripple, Paxos, and Circle.
Recently, Crypto.com and Coinbase have also submitted applications, reflecting a broader industry push toward federally supervised crypto banking structures.