Trump-Linked Firm Seeks OCC Charter for USD1 Stablecoin

World Liberty Trust Company, a cryptocurrency venture associated with President Donald Trump and his family, has applied for a national trust bank charter from the Office of the Comptroller of the Currency to issue and manage its USD1 stablecoin.

The application, filed this week, seeks federal oversight for minting, redeeming, and converting the dollar-pegged USD1 token, along with custody services for institutional clients such as exchanges, market makers, and investment firms. If approved, the proposed trust would consolidate these operations under a single regulated entity, enabling fee-free conversions between U.S. dollars and USD1 at launch, while offering conversions from other stablecoins at market rates. USD1, launched in March of last year, has grown to a circulation of more than 3.3 billion in its first year, backed by U.S. dollars held in regulated depositories and short-term Treasury obligations. The token operates across multiple blockchain networks, including Ethereum, Solana, and TRON, and has seen adoption in institutional activities like cross-border payments and deal settlements.

The trust company, distinct from but sharing branding with World Liberty...