World Liberty Financial files OCC trust charter to launch USD1 stablecoin bank

World Liberty Financial, through WLTC Holdings LLC, has filed a de novo application with the Office of the Comptroller of the Currency (OCC) to establish World Liberty Trust Company National Association. This proposed national trust bank would consolidate the issuance, custody, and conversion services for its USD1 dollar-backed stablecoin under a single federally regulated entity. USD1's circulation has surpassed $3.3 billion in its first year, primarily used by institutional customers for cross-border payments and treasury management. The trust aims to serve crypto exchanges, market makers, and investment firms, offering initial fee-free services for issuance and conversion at market rates. The structure is designed to comply with the GENIUS Act, ensuring full AML screening and federal supervision, with Mack McCain expected to serve as trust officer.

(Source：Crypto Briefing)