World Liberty Financial, a crypto platform associated with the Trump family, has filed for a national trust banking charter with the Office of the Comptroller of the Currency. The move would allow its subsidiary, WLTC Holdings, to issue, custody, and convert its USD1 stablecoin internally, reducing reliance on third-party service providers.
If approved, the charter would enable fee-free minting and redemption of USD1, direct conversion between US dollars and the stablecoin, and custody services for USD1 and other digital assets. The company said institutional clients are already using USD1 for cross-border payments, settlement, and treasury operations, and that tighter integration could support broader adoption.
The filing comes as US regulators increasingly grant conditional banking approvals to crypto-native firms, signaling a gradual opening of the traditional banking framework. However, World Liberty’s application may attract additional scrutiny given political sensitivities and concerns raised by lawmakers around governance and potential conflicts of interest.
