Overview
- WLTC Holdings submitted a de novo application on Jan. 7 to the Office of the Comptroller of the Currency to form World Liberty Trust Company, a national trust bank for USD1 issuance, custody, and conversion.
- World Liberty reports USD1 circulation above $3.3 billion in its first year, with services aimed at exchanges, market makers, and investment firms, including conversion from other stablecoins.
- The company says dollar–USD1 conversions will launch with no fees and that the trust will operate with AML screening, sanctions compliance, and cybersecurity controls.
- World Liberty states the structure is designed to comply with the GENIUS Act and to avoid conflicts, asserting Trump family members hold nonvoting stakes with no operational control as political scrutiny intensifies.
- OCC approval is pending; Anchorage Digital remains the only crypto-native firm with a national trust charter, while others including BitGo, Fidelity, Circle, Ripple, and Paxos have pursued OCC trust structures.