World Liberty Financial Seeks OCC Trust Bank Charter for Stablecoin
- World Liberty Financial has applied to the U.S. Office of the Comptroller of the Currency (OCC) to form a national trust bank.
- The charter seeks federal oversight for its USD1 stablecoin, including issuance, custody, and conversion services.
- Only Anchorage Digital has previously received OCC approval among crypto firms, setting a high bar for others.
- The proposed World Liberty Trust Company aims to manage USD1’s reserve assets and provide conversion from other stablecoins.
- World Liberty Financial is linked to President Donald Trump’s family, drawing scrutiny over its ownership structure.
World Liberty Financial’s application represents an effort to place its USD1 stablecoin under direct federal supervision, a move that could advance it from a trading instrument to a settlement instrument within regulated frameworks.
This application highlights the company’s ambition to enhance regulatory transparency and reduce state-level regulatory friction for stablecoin operations in the decentralized finance space. Source)
