World Liberty Financial, or WLFI, is going to be applying to the federal government to set up a National Trust Bank through US President Donald Trump and his extended family. This marks a major change for WLFI, because it intends to bring together its growing Stablecoin operation and put it under the oversight of federal regulators at the same time that crypto currencies are starting to blend into traditional banking systems.
On Wednesday, the company’s subsidiary, World Liberty Trust Company (WLTC), submitted its application to the Office of the Comptroller of the Currency (OCC). If approved, the charter would allow the firm to issue, custody, and exchange its dollar-backed stablecoin, USD1, as a federally regulated entity—a status that could dramatically boost its appeal to institutional investors.
The “Trust” Strategy
It is important to clarify that World Liberty Financial is not trying to become a commercial bank like Chase or Wells Fargo. The application is for a “national trust bank” charter, a specific designation that focuses on fiduciary services rather than taking deposits and making loans.
WLTC plans on being a bank that will provide financial support for the operation of USD1 Stablecoin. More specifically, they will manage USD1 reserves, provide custody services for digital assets, and facilitate conversions between USD1 and traditional US Dollars (USD). WLTC intends to be federally chartered, thereby offering regulatory support that off-shore companies cannot offer.
“Faster Than History”
The aggressive push for a banking charter comes amid explosive growth for the project’s flagship product. Co-founder Zach Witkoff, who is slated to serve as the President and Chairman of the new trust company, touted the token’s meteoric rise in a statement accompanying the filing.
“USD1 grew faster in its first year than any other stablecoin in history,” Witkoff claimed.
While independent verification of “fastest in history” is complex given the volatile nature of crypto markets, the raw numbers are undeniably impressive. According to data from DeFiLlama, USD1 has swelled to a market capitalization of approximately $3.4 billion in less than a year. It has a ranking of seventh-largest by supply of stablecoins. It is gaining momentum with many users on the Binance Smart Chain (BNB) and Ethereum Network; it is being utilized more frequently for both decentralized exchange (DEXs) and for cross-border payment settlements.
Navigating the Political Minefield
The political significance of this application is exceptional. The Trump family has been directly involved with the creation of World Liberty Financial since its founding in 2024. The President is a listed “co-founder emeritus” on the website and is one of many people affirmatively promoting the finances produced by this business with his sons involved.
This proximity to the Oval Office has already drawn sharp scrutiny. Concerns regarding potential conflicts of interest were raised by many critics, including Sen. Elizabeth Warren. Critics are questioning whether or not a regulator appointed by the president will be objective in reviewing a bank charter application that is associated with the president’s family. The project argues, however, that it is following all applicable standard processes.
The application explicitly states that the new trust bank is designed to comply with the GENIUS Act, a piece of legislation passed in July 2025 that established a clear federal framework for stablecoin issuers.
A Crowded Runway
World Liberty Financial is not the only crypto heavyweight rushing through the regulatory door. The filing follows a recent wave of activity at the OCC, which recently granted conditional approvals to several other major players, including stablecoin issuer Circle and blockchain payments firm Ripple.
Unlike its competitors, however, WLFI is attempting to bridge the gap between “degen” crypto culture and Wall Street compliance at record speed. If successful, it would join Anchorage Digital as one of the few crypto-native firms to hold a full national trust charter.
Market Reaction
The project community has responded to the announcement positively with WLFI, the governance token, gaining 2.4% in value within 24 hours post-announcement and rising above the negative momentum of the market. Social media has gone from “bullish” to “extremely bullish”: discussions on Stocktwits now include a great deal of excitement as traders are contemplating the positive implications of a potential federal charter for the Trump post-supportive ecosystem.
Currently, the OCC holds the application, and it will proceed with a comprehensive study process. World Liberty Financial has clearly indicated through this statement that their intention is to develop more than simply a cryptocurrency solution. They are creating a bank.
