TLDR
- World Liberty Trust Company applied for a national charter with the OCC to issue the USD1 stablecoin.
- The trust plans to mint, redeem, and convert USD1 for institutional clients, including exchanges and firms.
- World Liberty is linked to president Donald Trump through its name, leadership roles, and ownership by his family
- The OCC’s crypto stance has become more open under the Trump administration and Comptroller Jonathan Gould.
- USD1 and other stablecoins are now subject to the GENIUS Act, signed by Trump, with rules still being finalized.
World Liberty Trust Company, a proposed crypto trust linked to U.S. President Donald Trump, has applied for a national charter with the Office of the Comptroller of the Currency (OCC), aiming to directly issue and manage the USD1 stablecoin. If approved, the trust would operate under federal oversight, issuing the dollar-pegged coin while offering custody and conversion services to institutional clients.
USD1 to Be Issued by Newly Proposed Trust Entity
World Liberty Trust Company filed its application to the OCC to become a federally chartered national trust bank, separate from World Liberty Financial. The firm aims to directly issue USD1, a stablecoin tied to the U.S. dollar, which it claims has experienced fast institutional adoption.
USD1 would be minted and redeemed by the trust, with conversion services provided to holders of other stablecoins. The new entity plans to serve exchanges, market makers, and investment firms through a regulated structure.
A spokesperson clarified that World Liberty Financial did not file the application; instead, World Liberty Trust Company submitted it independently. Although the companies share branding, they have different operating and ownership structures, including distinct corporate responsibilities.
Firm Tied to Trump Family Seeks Regulated Expansion
The proposed trust is closely associated with Donald Trump, who is listed as “co-founder emeritus” on World Liberty’s website, alongside his three sons. Ownership documents also reveal DT Marks DEFI LLC, a Trump family-owned entity, holds a stake in the crypto venture.
If approved, the trust would place Trump-connected leadership at the helm of a federally regulated digital asset issuer. Zach Witkoff, co-founder of World Liberty, will serve as president and chairman if the charter is granted.
Witkoff said in a statement, “USD1 grew faster in its first year than any other stablecoin in history.” He added the trust charter would integrate USD1’s issuance, custody, and conversion within one entity. The move is positioned as a strategic alignment with regulatory demands while expanding institutional utility.
Regulatory Climate Shifts Under the Trump Administration
As reported by Blockonomi, the OCC has previously approved trust charters for firms including Circle, Paxos, BitGo, and Fidelity Digital Assets. Under the Biden administration, crypto banks faced stricter regulatory barriers, but policy has since shifted. Jonathan Gould, appointed as Comptroller by President Trump, assumed leadership at the OCC last summer.
The GENIUS Act, signed into law last year by Trump, now governs stablecoin issuance within the United States. Specifics of the regulatory framework under the act are being finalized by agencies such as the Treasury Department. Discussions also continue in Congress around how stablecoin yields should be structured under new market regulations.
Lawmakers are expected to vote on pending crypto market structure legislation next Thursday. The outcome may impact future oversight of stablecoin products. World Liberty Trust’s charter application remains under OCC review.
