2026-01-08 04:33:02

WLFI has recently made a big move. The company has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to obtain a national trust bank license. Once approved, they will be able to issue and manage USD1, a dollar-pegged stablecoin, as a federal trust bank.

Speaking of USD1, it is currently custodied by BitGo and backed by 100% cash plus short-term U.S. Treasuries—this mechanism is quite secure. However, WLFI's idea is that once the new license is obtained, these assets will be transferred to their regulated accounts, and BitGo will shift from a custodian to a strategic partner.

This stablecoin has already reached a market cap of $3.3 billion within a year, a remarkable growth rate in the stablecoin sector. With so much capital backing it, the demonstration effect of this move is quite significant.

WLFI0,22%

USD10,01%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

22 Likes

Reward
22
5
Repost
Share

Comment

Add a comment

IntrovertMetaverse

· 01-10 10:18

Bro, if this license really gets approved, the stablecoin sector is going to explode again.

View OriginalReply0

MemeEchoer

· 01-08 05:02

Wow, 3.3 billion market cap in a year, this growth rate is truly incredible... If they really get the license, it's going to take off.

View OriginalReply0

consensus_failure

· 01-08 04:58

Damn WLFI's move, directly trying to eat BitGo's cheese...

USD 1 billion in one year, this growth rate is really insane. But can OCC pass this hurdle?

Sounds like a financial power transfer, BitGo has really become a worker now.

The stablecoin arms race is getting more intense, really.

Getting a license and becoming invincible? Don't think too much, about regulation...

It seems that the capital behind this is very comfortable, after all, it's money being poured in.

Can growth built on capital really be sustained?

Going for independent issuance of tokens directly, is this trying to bypass third-party custody?

USD 1 billion a year is nothing, the key is whether they can survive long-term.

View OriginalReply0

SchrödingersNode

· 01-08 04:35

Wait, once WLFI gets the federal license, they'll manage their assets themselves? That has to be a done deal, is the regulation this lenient?

But on the other hand, a market cap of 3.3 billion in just a year—this growth rate is indeed a bit outrageous.

BitGo shifting from custody to strategic partner feels a bit like being "demoted"...

The stablecoin track is getting more competitive; whoever can obtain official status will be the winner.

View OriginalReply0

BlockchainArchaeologist

· 01-08 04:34

Wow, the growth rate of USD1 is really impressive, 3.3 billion in a year? There's still such a dark horse in the stablecoin track.

View OriginalReply0