World Liberty Financial Seeks Federal Trust Charter to Scale USD1 Stablecoin
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World Liberty Financial disclosed on January 7 that its affiliate, WLTC Holdings LLC, had filed an application with the U.S. Office of the Comptroller of the Currency to form a national trust bank dedicated to stablecoin operations.
The company explained that the proposed entity, to be known as World Liberty Trust Company, National Association, would place the issuance, custody, and conversion of its dollar-backed stablecoin, USD1, under direct federal oversight.
According to the announcement, USD1 has already exceeded $3.3 billion in circulation within its first year, signaling strong institutional interest in compliant digital dollar products.
Federal Oversight to Unify Stablecoin Operations
World Liberty Financial stated that the proposed trust bank would centralize core stablecoin services within a single, regulated institution. Meanwhile, the firm noted that this structure would allow WLTC to issue USD1 and safeguard digital assets. Also, it will enhance handling conversions more efficiently while meeting strict regulatory standards. It was further reported that the trust company would support conversions from other stablecoins into USD1, providing institutions with a legal pathway into the asset.
As it stands, if approved, the bank would serve clients like crypto exchanges, market makers, and investment firms with services that include fee-free minting and redemption at launch, U.S. dollar on-ramps and off-ramps, and secure custody.
To this end, the company added that operations would align with the GENIUS Act and include anti-money laundering controls, sanctions screening, segregated customer funds, independent reserve management, and strong cybersecurity measures.
Institutional Demand and Multi-Chain Expansion
Proposed President and Chairman Zach Witkoff was quoted as saying that institutions were already using USD1 for cross-border payments, settlement, and treasury management, and that a national trust charter would allow the firm to deliver a full-service stablecoin platform within a highly regulated framework. World Liberty Financial emphasized that USD1 is fully backed by U.S. dollars and short-term U.S. Treasury instruments held with regulated custodians.
The stablecoin currently operates across ten blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core. BitGo Chief Executive Mike Belshe reportedly said that the company was proud to have supported USD1’s rapid growth and intended to remain a key strategic partner as WLTC moves toward full operations and the next phase of expansion.
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