- World Liberty Financial has applied to the U.S. Office of the Comptroller of the Currency to form a national trust bank.
- The charter would place the **USD1** stablecoin under federal supervision and allow issuance, redemption, custody, conversion, and reserve management.
- The proposed trust would be named World Liberty Trust Company and would not take deposits or make loans under the trust charter.
- Only Anchorage Digital has previously won a national trust charter for a crypto firm, setting a high bar for approvals.
- The filing and related materials include an image and an embedded poll for additional context: report image and related poll embed.
World Liberty Financial, a crypto venture linked to a former presidential family, has filed to form a national trust bank with the U.S. Office of the Comptroller of the Currency. The planned entity, named World Liberty Trust Company, would oversee the issuer operations for the USD1 stablecoin to place issuance, custody, conversion, and reserve management under federal supervision.
If the OCC approves, the trust would be allowed to “take over the issuance and redemption of USD1, offer conversion services from other major stablecoins into USD1, offer custody services for fiat and major stablecoins, and perform the reserve management for the assets backing outstanding USD1,” according to Mack McCain, general counsel and proposed trust officer. McCain also said the group intends to operate “in a highly regulated, transparent manner.”
National trust charters for crypto firms remain uncommon. To date, Anchorage Digital is the only digital-asset company the OCC has conditionally approved, and the regulator lists about 60 national trust banks overall. That history signals a high approval standard for new entrants.
Industry observers say a federal trust charter can shift a stablecoin from a trading tool to a settlement instrument. Chris Loeffler, CEO of Caliber, described the filing as a “structural upgrade” that could reduce state-level frictions and counterparty dependencies for settlement uses.
The filing comes after the venture rolled out USD1 and its governance token WLFI last March. Filings tied to the token sale and subsequent disclosures have prompted regulatory and congressional scrutiny over ownership structure and financial arrangements.
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