Key Takeaways
- World Liberty Financial is seeking a national trust charter to bring USD1 issuance custody and conversion under federal oversight.
- The move signals growing institutional demand for regulated stablecoin infrastructure as USD1 supply tops $3.3 billion.
World Liberty Financial said WLTC Holdings LLC has filed a de novo application with the Office of the Comptroller of the Currency to establish World Liberty Trust Company National Association, a proposed national trust bank focused on stablecoin operations.
If approved, the charter would allow the trust to issue USD1, the firm’s dollar-backed stablecoin, and provide custody and conversion services under a single federally regulated entity.
USD1 has reached more than $3.3 billion in circulation within its first year, with usage concentrated among institutional customers for cross-border payments, settlement, and treasury management.
The trust company plans to serve crypto exchanges, market makers, and investment firms, while also enabling holders of other stablecoins to convert into USD1. World Liberty Financial said issuance, on ramp and off ramp services, and custody would launch with no fees initially, with conversions offered at prevailing market rates.
The trust bank is designed to comply with the GENIUS Act and will operate under federal supervision with full AML screening, sanctions compliance, and cybersecurity controls.
Mack McCain, general counsel of World Liberty Financial, is expected to serve as trust officer, overseeing fiduciary responsibilities. The firm said the OCC framework would provide regulatory clarity for banks, asset managers, and corporations expanding stablecoin usage.
USD1 is fully backed by US dollars held at regulated depository institutions and funds invested in short-duration US Treasury obligations. The stablecoin operates across ten blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core.