The announcement states:
Institutions are already using USD1 for cross-border payments, settlement, and treasury operations. A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.
FAQ ⏰ What is World Liberty Financial applying for? It is seeking a national trust bank charter from the OCC to support its USD1 stablecoin. What is USD1 used for? Institutions use USD1 for cross-border payments, settlement, and treasury operations. How is USD1 backed? USD1 is backed by U.S. dollars and short-duration U.S. Treasury obligations. Who are WLTC’s target clients? WLTC plans to serve exchanges, market makers, and institutional investment firms.
