World Liberty Financial, a company linked to the family of President Donald Trump, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter to establish World Liberty Trust Company (WLTC). If approved, this trust entity would directly handle the issuance and management of the stablecoin USD1, consolidating all related services under a single federal supervisor.
Broadly speaking, World Liberty Trust Company (WLTC) would offer a comprehensive suite of digital services, including proprietary custody and conversion services for other stablecoins. It will focus on institutional clients such as exchanges and investment firms, operating under the GENIUS Act and chaired by co-founder Zach Witkoff, who will oversee rigorous controls.
This application reflects an effort to integrate cryptocurrencies into the traditional financial system. While it cannot be described as a widely accepted measure, there is notable interest given the growth of the USD1 stablecoin. According to the latest figures, the market capitalization of USD1 has surged from $128 million to $3.37 billion over 6–8 months, driven by institutional adoption.
Can a banking charter make usd1 a market leader?
Certainly, USD1 will enter a highly competitive market and face formidable rivals. Still, it may attract attention due to its issuance starting at a minimum of $1. However, its acceptance and success will depend not only on its integration into the traditional banking system but more so on its adaptation to the modern decentralized framework.
According to its founders’ expectations, the potential entry of a stablecoin with this profile could accelerate the institutionalization of cryptocurrencies, as its successful approval would set a clear regulatory precedent for bank-issued digital assets. Similarly, its founders aim to establish new compliance and oversight standards for the entire industry, believing this could catalyze a new wave of financial innovation.
Looking ahead, the company is already exploring the launch of Real World Asset (RWA) products, seeking to build a broader digital financial ecosystem with USD1 and WLTC as foundational pillars. This would create a hybrid actor bridging traditional banking and digital finance.
