Trump Family’s Crypto Firm Applies for U.S. Banking Charter

World Liberty Financial, a Trump-family-linked crypto firm, announced upcoming updates to its WLFI ecosystem and USD1 stablecoin, amid efforts to secure a national trust bank charter.

The move illustrates growing institutional interest in stablecoins, highlighting potential shifts in regulatory and financial landscapes.

Trump’s Crypto Venture Pursues National Trust Banking License

World Liberty Financial, connected to the Trump family, has announced plans to enhance the WLFI ecosystem and USD1, its stablecoin. World Liberty Trust Company, a WLF subsidiary, has applied to the U.S. Office of the Comptroller of the Currency to be recognized as a national trust bank, a pivotal change positioning the company at the center of regulated crypto banking.

The application aims to strengthen WLF’s position in the crypto market by allowing USD1 issuance and custodian capabilities through a national trust bank purpose-built for stablecoin operations. The proposed structure seeks to offer zero-fee conversion to USD upon launch, reflecting significant developments within the stablecoin sphere.

Market observers reacted to WLF’s announcement with interest in the potential regulatory implications. BitGo CEO Mike Belshe stated, “BitGo is proud to have supported USD1’s rapid growth to over $3.3 billion in its first year and looks forward to continuing as a key strategic partner as WLTC becomes fully operational and USD1 enters its next stage of growth.” This reflects industry acknowledgment of WLF’s strategic ambitions.

Will USD1’s Expansion Influence the Stablecoin Market?

Did you know? WLF’s move mirrors a trend where major digital asset firms secure U.S. national trust bank charters to deepen regulatory integration, promising to transform how digital currencies interface with traditional financial systems.

World Liberty Financial USD (USD1) is valued at $1.00, with a market cap of $3.40 billion. Its 24-hour trading activity has decreased to $600.93 million, marking a 29.94% drop. CoinMarketCap data shows price changes across 24 hours (-0.01%) and highlights a stable trajectory over 90 days.

The Coincu research team emphasizes that WLF’s plan to achieve U.S. regulatory status could set a precedent for other crypto firms seeking governmental affiliation for stablecoin issuance. This cooperation might accelerate USD1’s growth and potentially impact stability in financial markets, highlighting regulatory dynamics.