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World Liberty Financial Seeks OCC Trust Charter for USD1 Stablecoin Operations
Source: CryptoNewsNet Original Title: World Liberty Financial files OCC trust charter to launch USD1 stablecoin bank Original Link: https://cryptonews.net/news/altcoins/32242885/ World Liberty Financial announced that 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 enable the trust to issue USD1, the firm’s dollar-backed stablecoin, and provide custody and conversion services under a single federally regulated entity. This move reflects growing institutional demand for regulated stablecoin infrastructure.
Market Traction
USD1 has surpassed $3.3 billion in circulation within its first year, with usage concentrated among institutional customers for cross-border payments, settlement, and treasury management. The stablecoin operates across ten blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core.
Service Offering
The trust company plans to serve crypto exchanges, market makers, and investment firms, while enabling holders of other stablecoins to convert into USD1. World Liberty Financial stated that issuance, on-ramp and off-ramp services, and custody would launch with no fees initially, with conversions offered at prevailing market rates.
Regulatory Framework
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 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.