World Liberty Financial Seeks National Trust Charter for USD1 Stablecoin
- World Liberty Financial has filed an application with the Office of the Comptroller of the Currency to establish a national trust bank, World Liberty Trust Company National Association.
- If approved, this charter will allow the issuance and custody of USD1, a dollar-backed stablecoin, under federal oversight.
- USD1’s supply has surpassed $3.3 billion within its first year, primarily used by institutional customers for cross-border payments and treasury management.
- The trust aims to provide services to crypto exchanges, market makers, and investment firms while offering conversion options from other stablecoins to USD1.
- The trust bank will comply with the GENIUS Act and operate under federal supervision with full AML screening and cybersecurity controls.
- USD1 is fully backed by US dollars held at regulated depository institutions and short-duration US Treasury obligations, operating across ten blockchain networks including Ethereum, Solana, and BNB Smart Chain.
World Liberty Financial’s move to secure a national trust charter reflects growing institutional demand for regulated stablecoin infrastructure as USD1 circulation exceeds $3.3 billion. The proposed trust will enhance regulatory clarity for expanding stablecoin use among banks and asset managers.
Source (3.2)https://cryptobriefing.com/world-liberty-financial-seeks-us-banking-license-for-stablecoin-operations/?rand=59535
