Trumps‘ World Liberty Financial applies for banking charter to expand USD1
The Trump family’s World Liberty Financial filed for a banking charter to gain greater control over its USD1 stablecoin and expand its adoption among institutions.
The Trump family’s crypto platform, World Liberty Financial, has filed for a national trust banking charter to accelerate the institutional adoption of its USD1 stablecoin.
World Liberty said on Wednesday that its subsidiary WLTC Holdings filed with the Office of the Comptroller of the Currency (OCC) for a charter that would allow it to issue, custody and convert its stablecoin in-house, rather than rely on third-party providers such as BitGo.
“Institutions are already using USD1 for cross-border payments, settlement, and treasury operations,” said World Liberty CEO Zach Witkoff. “A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.”
