Yes

>>World Liberty is pursuing a U.S. banking license as part of Trump’s cryptocurrency push.

World Liberty is pursuing a U.S. banking license as part of Trump’s cryptocurrency push.

crypthub

1 day ago

Bank Charter Application

World Liberty Financial submitted a de novo application to the OCC for a national trust bank charter. The charter would let its subsidiary, World Liberty Trust, issue and safeguard the USD1 stablecoin. Approval would bring the token deeper into the U.S. banking regulatory perimeter. The filing follows recent OCC approvals for other crypto‑focused trust banks.

USD1 Stablecoin Growth

USD1, launched last year, is a dollar‑linked token now valued at about $3.4 billion. It gained visibility when a third‑party investor used it to purchase a $2 billion stake in Binance. The token’s scale underscores stablecoins’ shift from trading tools to payment infrastructure.

Regulatory and Institutional Context

World Liberty relies on established crypto custodial services, with BitGo holding the USD1 reserves. The firm targets exchanges, market makers and investment firms that need bank‑level custody and conversion services. It pledges compliance with the GENIUS Act, anti‑money‑laundering rules and sanctions screening.

Political Considerations

The application arrives in a Washington climate more favorable to crypto under President Trump. Critics cite conflict‑of‑interest worries because the Trump family holds a non‑voting interest in the trust. World Liberty argues the structure mitigates risk and keeps day‑to‑day operations independent.