World Liberty Financial Joins Custodia, Ripple, Circle in Push for U.S. Trust Bank Status

Source: CoinEdition Original Title: World Liberty Financial Joins Custodia, Ripple, Circle in Push for U.S. Trust Bank Status Original Link:

• World Liberty Financial filed an application with the OCC to form a national trust bank for stablecoin operations.
• The proposed trust bank would issue and custody USD1, which has grown to over $3.3 billion in circulation.
• The bank plans to offer stablecoin issuance, dollar conversion, and digital asset custody under federal supervision.

World Liberty Financial said its subsidiary, WLTC Holdings LLC, has applied for a national trust bank charter in the United States. The application was filed with the Office of the Comptroller of the Currency, which oversees national banks and trust companies. If approved, the new entity would operate as World Liberty Trust Company, a trust bank designed specifically for issuing and managing stablecoins.

Focus on USD1 Stablecoin

The proposed trust bank would issue and custody USD1, a U.S. dollar-backed stablecoin that World Liberty Financial says has grown to more than $3.3 billion in circulation within its first year.

Company executives said institutional clients are already using USD1 for cross-border payments, settlement, and treasury operations. A national trust charter would allow issuance, custody, and conversion services to be offered under one regulated structure, rather than across multiple entities.

What the Trust Bank Plans to Offer

World Liberty Financial said the trust company would focus on three main services under federal oversight: issuing and redeeming USD1, converting between U.S. dollars and stablecoins, and providing secure custody for USD1 and other approved stablecoins.

At launch, the company plans to offer issuance and dollar conversion with no fees, while conversion between stablecoins would be done at market rates. The trust bank would target institutional users such as crypto exchanges, market makers, and investment firms.

The company said the new trust bank would comply with the GENIUS Act, follow strict anti-money-laundering rules, and operate with strong cybersecurity standards.

“WLTC will operate under that same framework, with segregated customer assets, independent reserve management, and regular examination,” they added.

World Liberty Financial’s general counsel, Mack McCain, is expected to serve as trust officer, overseeing fiduciary responsibilities.

Part of a Wider Industry Shift

World Liberty Financial’s move comes as more digital asset firms seek bank or trust charters to gain regulatory clarity and deeper access to the U.S. financial system.

A growing group of crypto-native companies are pursuing similar paths, including Anchorage Digital, Custodia Bank, Ripple, Circle, Crypto.com, and firms such as BitGo, Fidelity Digital Assets, and Paxos.

These companies are seen as candidates for limited access to the Federal Reserve’s payment systems in the future, sometimes referred to as “skinny” master accounts, which would allow them to settle payments directly with the central bank under tight controls.