World Liberty Financial Files for Federal Bank License in the US with Trump

World Liberty Financial – a cryptocurrency company with close ties to U.S. President Donald Trump – has officially filed for a (national trust charter) with the U.S. Office of the Comptroller of the Currency (OCC). If approved, the company will establish the World Liberty Trust Company, marking a significant step toward legitimizing and expanding stablecoin operations in the U.S. market. Direct Issuance of Stablecoin USD1 According to a press release issued on Wednesday, the World Liberty Trust Company – if approved by the OCC – will directly issue the USD1 stablecoin, a digital currency pegged 1:1 to the USD. This is a major change, as many stablecoins currently rely on intermediary structures or issuing partners. In addition to issuance, this trust company will also provide: Digital asset custody services (custody)Stablecoin conversion services, allowing users to exchange other stablecoins for USD1Mechanisms for minting and redeeming, enabling customers to create or convert USD1 directly with the issuer This “full-stack” model allows World Liberty to control the entire value chain of the stablecoin, from issuance and custody to liquidity. Targeting Institutional Clients World Liberty Trust Company plans to focus on serving institutional clients, including: Cryptocurrency exchangesMarket makersInvestment funds and financial firms According to the company, USD1 is already used in: Cross-border paymentsSettlement activitiesTreasury operations of financial institutions This indicates that USD1 is not only aimed at retail users but also plays a role as a payment infrastructure within the digital financial system. Direct Ties to the Trump Family World Liberty Financial has direct connections to the Trump family. On its official website: Donald Trump is introduced as “Co-founder Emeritus”His three sons are listed as co-foundersDT Marks DEFI LLC – a company owned by Trump and his family – holds a stake in World Liberty This makes World Liberty one of the few crypto projects with direct ties to a sitting U.S. president. OCC and Changing Perspectives on Crypto In recent years, the OCC has issued trust bank licenses to major crypto firms such as: CircleRippleFidelity Digital AssetsBitGoPaxos However, under the Biden administration, the OCC has been cautious and restrictive in approving banking models related to digital assets. Since Trump returned to the White House in January last year, policies toward crypto have shifted markedly. Jonathan Gould – appointed by Trump as Comptroller of the Currency – officially took leadership of the OCC last summer and is seen as a driving force behind a more open approach to the digital asset industry. USD1 and the New Stablecoin Legal Framework Stablecoins in the U.S. are currently regulated under the GENIUS Act, signed into law by President Trump last year. However, many detailed regulations are still being finalized by: U.S. Department of the TreasuryFederal financial regulators One contentious issue is how to handle the yield (yield) of stablecoins, especially as the U.S. Congress prepares to vote on crypto market structure bills next week. Statements from World Liberty Leadership Zach Witkoff, co-founder of World Liberty Financial, said that applying for a banking license is: “Another evolutionary step for the company.” If approved by the OCC, Mr. Witkoff will serve as Chairman and CEO of the World Liberty Trust Company. He emphasized: “USD1 has grown faster than any other stablecoin in its first year. Organizations are already using USD1 for cross-border payments, settlement, and treasury management. The national trust license will allow us to unify issuance, custody, and conversion within a tightly regulated entity.” Conclusion The application by World Liberty Financial for a federal banking license is not only a strategic move for the company but also reflects a fundamental shift in how the U.S. approaches stablecoins and digital assets under President Trump. If approved, the World Liberty Trust Company could become a “bank-standard” stablecoin model, paving the way for deeper legalization of crypto within the traditional financial system.