- World Liberty Financial’s trust bank, World Liberty Trust Company, would directly issue the native USD1 stablecoin and offer custody and stablecoin conversion services.
- Institutional demand for the USD1 stablecoin is rising with its market cap surging to $3.3billion within a year of launch.
The Trump-family-led crypto project World Liberty Financial, has recently submitted an application to the I.S. Office of the Comptroller (OCC), with plans to launch a new banking charter dubbed the World Liberty Trust Company (WLTC).
If approved by the OCC, the trust company would directly issue the World Liberty–linked USD1 stablecoin, which is pegged to the U.S. dollar. The first also noted that WLTC will provide in-house custody and stablecoin conversion services. Thus, it will allow holders of other stablecoins to convert their assets into USD1.
The USD1 stablecoin has seen significant growth in its first year of launch. With its market cap just at $128 million in May 2025, it has now surged to more than $3.3 billion as of today. The WLFI buyback program in November 2025 has also contributed to this growth, as reported by CNF.
World Liberty Financial Makes A Move for Banking License
Speaking on the latest development, World Liberty Financial co-founder Zach Witkoff called the recent application of the national charter, as part of the company’s expansion plans. Witkoff also confirmed that he would serve as the chairman of the World Liberty Trust Company (WLTC), after approval from the OCC. As per the press release, Witkoff said:
“USD1 grew faster in its first year than any other stablecoin in history. 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.”
As per the announcement, the proposed trust bank will operate under the GENIUS Act framework. Thus, it will make sure to implement anti-money laundering and sanctions screening along with essential cybersecurity measures. Mack McCain, general counsel of World Liberty Financial, will serve as the trust officer for WLTC. At the trust bank, he will look after the compliance as well as fiduciary operations.
“WLTC will operate under that same framework, with segregated customer assets, independent reserve management, and regular examination. That gives banks, asset managers, and corporations the regulatory clarity they need to further expand their use of USD1,” said McCain.
Are US Regulators Turning Crypto-Friendly?
Over the past many years, the federal banking regulator has been cautious about approving banks that offer crypto-related services. However, their stance has shifted under the Trump administration. Jonathan Gould, who was appointed comptroller of the currency by Trump, assumed leadership of the agency last summer.
Since then, the OCC has granted a trust bank charter to some of the top crypto firms, including Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos.
