WLFIl Seeks National Banking License to Expand Stablecoin Operations
World Liberty Financial, the ambitious cryptocurrency venture backed by the family of President Donald Trump, officially applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC) on January 7, 2026. The application, filed under the subsidiary “World Liberty Trust Company” (WLTC), represents a significant strategic pivot from a decentralized finance platform toward a fully regulated federal banking entity. If approved, WLTC would become a national trust bank purpose-built for the issuance and custody of USD1, the dollar-backed stablecoin that World Liberty launched to massive retail success in ahead 2025. This move is intended to position the Trump-linked project at the very center of the “institutionalized” digital economy, allowing it to compete directly with traditional giants like BNY Mellon and specialized crypto banks like Anchorage Digital in the multi-trillion dollar stablecoin settlement market.
The Strategic Move Toward a Full-Stack Stablecoin Ecosystem
The decision to pursue a national banking license is a cornerstone of World Liberty’s 2026 roadmap, which focuses on providing a “full-stack” financial offering for institutional clients, including crypto platforms and global market makers. Zach Witkoff, the President and Chairman of World Liberty Trust Company, stated that the charter would allow the firm to bring issuance, custody, and conversion services together under a single highly regulated entity. This structure is designed to comply with the recently enacted GENIUS Act, a pro-crypto legislative framework that has standardized federal oversight for stablecoin issuers. By moving USD1 issuance into a national trust bank, World Liberty aims to enhance the transparency and “trustworthiness” of its reserves, which currently exceed $3.3 billion in circulating supply. The bank plans to offer zero-fee conversion services between U.S. dollars and USD1 at launch, a move that could disrupt the current fee structures of established stablecoin competitors like Tether and Circle.
Navigating Political Scrutiny and the Conflict of Interest Debate
While the application represents a major milestone for the project, it has also reignited a fierce debate over the potential conflicts of interest surrounding the first family’s private business ventures. Government ethics experts have pointed out that the OCC—the very regulator that will decide the fate of World Liberty’s banking license—is overviewn by an administration led by the project’s own founders. Despite these concerns, World Liberty Financial has maintained that it is a separate business entity focused on a “patriotic mission” to dollarize the global digital economy. The project has already secured significant international partnerships, including a $2 billion investment from UAE-based firms and a joint liquidity drive with major decentralized platforms. As the OCC begins its review of the de novo application, the outcome will serve as a definitive litmus test for the “pro-innovation” stance of the 2026 regulatory environment, potentially clearing the path for a new era where the lines between political power and digital finance are more blurred than ever before.
