World Liberty Financial has officially applied to become a bank.
The company has applied for a National Trust Charter through a subsidiary WLTC Holdings LLC to the OCC, which will allow custody oversight over their USD1 stablecoin.
Following quite closely in the footsteps of its competitors, Circle and Ripple. However, this does’t include direct lending services and management of consumer deposits.
Soon-to-be President and Chairman Zach Witkoff said:
Institutions are already using USD1 for cross-border payments, settlement, and treasury operations. A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.”
World Liberty has had some notable partnerships and with a variety of different exchanges for reward programs since it launched in March 2025, among them Binance.
USD1 itself has grown to become top 10 stablecoin by market cap. Around $3.47B is currently recorded by DefiLama and nearly 25% was added in the last month. Binance Chain (BSC) and Ethereum account for the largest networks used overall.
