WLFI's subsidiary applies to the OCC for a national trust bank charter in the United States, planning to engage in cryptocurrency asset custody and stablecoin exchange services

According to The Wall Street Journal, World Liberty Financial stated that its entity World Liberty Trust has submitted a de novo application to the Office of the Comptroller of the Currency (OCC) seeking to obtain a national trust bank charter in the United States to enable the direct issuance and custody of its USD stablecoin, USD1.

The company stated that if the application is approved, the trust bank will gradually begin offering cryptocurrency asset custody and stablecoin exchange services, primarily serving institutional clients.