World Liberty Financial Seeks US Bank Charter for USD1 Stablecoin

On January 7, 2026, WLTC Holdings LLC submitted a de novo application to the Office of the Comptroller of the Currency (OCC) to establish World Liberty Trust Company, National Association. The proposed entity would serve as a purpose-built trust bank for issuing, custodying, and converting USD1 stablecoins.

USD1 launched in March 2025 and has since grown to over $3.3 billion in circulation across ten blockchain networks including Ethereum, Solana, BNB Smart Chain, and TRON. Co-founder Zach Witkoff stated that USD1 "grew faster in its first year than any other stablecoin in history."

If approved, the charter would transform World Liberty Financial from a DeFi protocol into a federally regulated banking entity focused on stablecoin operations. The trust bank would target institutional customers, including cryptocurrency exchanges, market makers, and investment firms seeking compliant dollar-backed digital assets.

The move comes as OCC Comptroller Jonathan Gould has adopted a more favorable stance toward crypto banking. In December 2025, the OCC granted conditional approvals to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos for similar charters. World Liberty's application explicitly cites compliance with the GENIUS Act, the federal stablecoin framework enacted in late 2025.

The OCC typically takes 12 to 18 months to review bank charter applications. World Liberty said its trust bank structure is designed to comply with the GENIUS Act's reserve and disclosure requirements from day one. If approved, Zach Witkoff would become president and chairman of the new entity.

USD1 currently operates on ten blockchains with reserves held in US dollars at regulated depository institutions and short-duration Treasury obligations. Anchorage Digital remains the only digital asset platform to hold a national trust bank charter from the OCC.