World Liberty Financial, co-founded by the Trumps and Zach Witkoff, is applying for a federal charter to establish World Liberty Trust Company, a proposed national trust bank for the USD1 stablecoin.
The approval could integrate USD1 more deeply into financial systems, influencing stablecoin markets and regulatory frameworks, while reflecting growing institutional interest in digital currencies.
Eric, Donald Jr., and Barron Trump seek OCC charter for USD1 stablecoin bank.
USD1 Stablecoin Bank Seeks OCC National Charter
World Liberty Trust Company (WLTC), backed by World Liberty Financial (WLF), has applied for an OCC national trust bank charter, aiming to further integrate the USD1 stablecoin into financial services.
The initiative is led by the Trump family and the Witkoffs, who are key stakeholders in WLF. This move signifies an attempt to strengthen USD1โs role in institutional finance. Zach Witkoff, Proposed President & Chairman, World Liberty Trust Company, noted, โThis application marks a further evolution of the World Liberty Financial ecosystem. USD1 grew faster in its first year than any other stablecoin in history.โ (source)
USD1โs $3.3 Billion Circulation Faces Market Expansion
The USD1 stablecoin currently has $3.3 billion in circulation. Its potential national trust charter could reshape its integration into financial markets.
Analysts note a charter would provide regulatory clarity and broaden USD1โs use in cross-border payments. This move aligns with previous regulatory trends encouraging structured oversight of digital assets.
OCC Charter Could Boost USD1โs Market Stability
The OCC has granted national trust charters to digital asset firms before. This has often led to expanded use and stability for associated stablecoins.
Experts highlight that WLTCโs potential charter could mirror prior successes, enhancing USD1โs institutional adoption and operational integrity in the burgeoning stablecoin landscape.
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