World Liberty Financial Seeks OCC Approval to Launch Trust Bank for USD1 Stablecoin
World Liberty Financial, a decentralized finance (DeFi) challenge backed by President Donald Trump, revealed that its subsidiary has utilized for a nationwide belief financial institution constitution.
This transfer positions the corporate to supply companies to institutional shoppers, together with exchanges, funding corporations, and extra. Nevertheless, conventional banking teams are voicing considerations in regards to the swift rise of crypto belief charters.
World Liberty Financial Advances Stablecoin Strategy With Proposed National Trust Bank
In the press launch, WLFI highlighted that WLTC Holdings LLC submitted a de novo software to the Office of the Comptroller of the Currency (OCC) to launch the World Liberty Trust Company, National Association (WLTC).
The proposed entity would function as a nationwide belief financial institution centered on stablecoin operations. WLTC goals to present three core companies: issuing and redeeming USD1 with out charges at launch and providing fiat on- and off-ramps between US {dollars} and USD1 at no preliminary price. The belief financial institution may also present custody and conversion services for USD1 and choose different stablecoins at market charges.
“USD1 grew quicker in its first 12 months than every other stablecoin in historical past, Institutions are already utilizing USD1 for cross-border funds, settlement, and treasury operations. A nationwide belief constitution will enable us to deliver issuance, custody, and conversion collectively as a full-stack providing below one extremely regulated entity,” Zach Witkoff, the proposed President and Chairman of World Liberty Trust Company, said.
World Liberty Financial acknowledged that WLTC will function below full federal supervision and comply with the GENIUS Act, implementing strict AML, sanctions screening, and cybersecurity requirements.
Customer property shall be segregated, reserves shall be independently managed, and operations shall be topic to common examinations. Mack McCain, General Counsel of World Liberty Financial, is ready to function Trust Officer.
“The OCC has supervised belief actions for over a century. WLTC will function below that very same framework….that offers banks, asset managers, and firms the regulatory readability they want to additional increase their use of USD1,” McCain acknowledged.
National belief charters allow firms to serve shoppers nationwide below a unified federal system, thereby bypassing state-by-state licensing necessities. These belief entities, nonetheless, don’t supply conventional deposit or lending companies. Instead, they deal with custody, settlement, and fiduciary roles. They additionally don’t maintain FDIC insurance coverage.
This software follows a broader development of digital asset corporations in search of federal belief charters. In December 2025, the OCC granted conditional charters to 5 digital asset companies: Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos. The financial institution regulator emphasised that the candidates underwent the identical “rigorous evaluation” as any nationwide financial institution constitution applicant.
“New entrants into the federal banking sector are good for customers, the banking trade and the economic system,” Comptroller of the Currency, Jonathan V. Gould, noted.
However, the US banking teams have pushed back against the OCC’s approval. The American Bankers Association and Independent Community Bankers of America argue that the transfer creates a two-tier banking system.
They added that crypto corporations profit from nationwide charters whereas avoiding key regulatory necessities utilized to insured banks, elevating considerations over uneven oversight and potential shopper confusion.
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