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World Liberty Financial

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World Liberty Financial, a crypto venture associated with the family of U.S. President Donald Trump, has submitted an application to U.S. regulators seeking approval to operate as a nationally chartered trust bank, <a href="https://www.bloomberg.com/news/articles/2026-01-07/trump-crypto-venture-world-liberty-applies-for-bank-charter" rel="noopener noreferrer nofollow">according</a> to Bloomberg.
Federal oversight sought for USD1 stablecoin
The application was filed with the Office of the Comptroller of the Currency (OCC) and proposes the creation of a new entity, World Liberty Trust Company (WLTC). If approved, the charter would place key elements of the company’s stablecoin business under direct federal oversight.
Trust bank to handle issuance, custody, and conversions
Under the proposal, WLTC would assume responsibility for the issuance and redemption of the USD1 stablecoin, manage reserves backing the token, and provide custody services for fiat currencies and major stablecoins. The trust bank would also be authorized to offer conversion services, allowing users to exchange other widely used stablecoins for USD1.
According to the filing, WLTC plans to launch with a fee-free model for core services, including stablecoin minting and redemption, as well as on- and off-ramp conversions between U.S. dollars and USD1. Custody and stablecoin conversion services would be offered at prevailing market rates.
If granted, the charter would place World Liberty Financial in a narrowly populated regulatory category, with only a limited number of crypto-native firms currently operating under similar federal supervision. The move signals an effort to align the USD1 stablecoin more closely with U.S. regulatory standards at a time of heightened scrutiny of digital asset issuers.
World Liberty Financial operates a decentralized finance protocol developed by its founding company, which was established in 2024 by Zachary Folkman, Chase Herro, Alex Witkoff, Zach Witkoff, along with members of the Trump family. The project has positioned itself as a crypto-native platform with ambitions to operate within the traditional U.S. financial regulatory framework.

World Liberty Financial applies for U.S. trust bank charter to oversee stablecoin operations

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