World Liberty Financial, the Trump family’s flagship crypto venture, has taken a major step toward integrating with the U.S. banking system by applying for a national trust bank charter, according to a report by The Wall Street Journal.
The company said that one of its entities, World Liberty Trust, filed a de novo application with the U.S. Office of the Comptroller of the Currency on Wednesday. If approved, the charter would allow World Liberty Financial to directly issue and custody its dollar-backed stablecoin, USD1, rather than relying on third-party banking partners.
A national trust bank charter would mark a significant regulatory milestone. It would place the entity under federal oversight while enabling it to perform key crypto-related financial services, including stablecoin issuance, custody of digital assets, and conversion between stablecoins and traditional fiat currencies.
Initially, the trust bank plans to focus on institutional clients, gradually expanding services as regulatory approvals and infrastructure mature.
The move comes as crypto companies increasingly seek deeper access to mainstream finance amid a more constructive regulatory tone in the United States.
Over the past year, several digital asset firms have explored obtaining bank charters or establishing bank-like structures to gain direct access to payment rails, reduce counterparty risk, and enhance their credibility with institutional investors.
World Liberty Financial’s application highlights how stablecoins are becoming a central pillar of crypto-financial infrastructure. By controlling both issuance and custody within a regulated banking framework, the company could streamline operations and offer institutions a more familiar compliance environment.
However, the approval process is far from guaranteed. The OCC’s review of de novo applications is typically rigorous, especially for crypto-focused entities, and can take months or longer. Regulators are expected to closely examine governance, risk management, capital adequacy, and anti-money-laundering controls.
If approved, World Liberty Trust would join a small but growing group of crypto-linked firms operating under U.S. banking supervision, an outcome that could further blur the lines between traditional finance and digital assets while reshaping how stablecoins are issued and managed in the U.S. financial system.