World Liberty Financial Seeks National Trust Charter for USD1 Stablecoin Operations

Source: DefiPlanet Original Title: World Liberty Financial Seeks National Trust qCharter for USD1 Stablecoin Operations Original Link:

Quick Breakdown

• WLTC applies for a national trust charter to issue and manage USD1 stablecoin.
• USD1 exceeds $3.3 billion in circulation, operating on ten blockchain networks.
• Trust bank will offer issuance, custody, and conversion services under federal supervision.

World Liberty Financial announced that its subsidiary, WLTC Holdings LLC, has filed an application with the Office of the Comptroller of the Currency (OCC) to establish World Liberty Trust Company, National Association (WLTC). The proposed trust bank is designed specifically to issue, custody, and manage USD1, the dollar-backed stablecoin that has surpassed $3.3 billion in circulation within its first year.

WLTC to become a fully regulated stablecoin bank

WLTC aims to serve institutional clients, including cryptocurrency exchanges, investment firms, and market makers, providing secure custody, issuance, and conversion of USD1 and other stablecoins. The trust bank will operate under strict federal supervision, complying with AML regulations, sanctions screening, and advanced cybersecurity protocols.

“The national trust charter allows us to unify issuance, custody, and conversion under one highly regulated entity,” said Zach Witkoff, proposed President of WLTC. Mack McCain, general counsel of World Liberty Financial, will oversee fiduciary operations as trust officer, ensuring segregated customer assets, independent reserve management, and regular OCC examinations.

Stablecoin services and blockchain integration

WLTC plans to offer three core services: fee-free issuance and redemption of USD1 on launch, on-ramp and off-ramp conversions between USD and USD1, and custody plus conversion of other stablecoins at prevailing market rates. USD1 is fully backed by U.S. dollars held in regulated depository institutions and short-duration U.S. Treasury obligations.

The stablecoin operates across ten blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core, supporting near-instant cross-border payments, tokenized settlement, and programmable enterprise payouts. BitGo, a key strategic partner, will continue supporting USD1’s operations as the trust bank becomes fully operational.

WLTC’s charter application represents a significant step in integrating stablecoin operations into a federally regulated banking framework, potentially expanding institutional adoption of USD1 and providing enhanced regulatory clarity for the growing digital asset market. WLFI also proposed allocating up to $5 billion from the U.S. Treasury to expand USD1, targeting market share from leading stablecoins USDT and USDC, which together control more than 90% of the $250 billion stablecoin market.