A crypto venture backed by members of former U.S. President Donald Trump’s family has applied for a U.S. national trust bank charter, seeking to operate under federal banking oversight, according to Reuters.
The firm, World Liberty Financial, submitted its application to U.S. regulators as part of plans to support stablecoin issuance and custody activities within a regulated banking framework.
Stablecoin operations at the center of application
According to the reports, World Liberty Financial aims to establish a national trust bank structure that would allow it to manage reserves, process transactions, and provide custody services related to its proposed U.S. dollar-linked stablecoin product.
A trust bank charter would subject the firm to federal supervision and compliance requirements, including capital standards, governance rules, and ongoing regulatory oversight.
Policy environment shifts toward regulated crypto banking
The application comes amid broader changes in U.S. policy toward digital assets, with regulators increasingly signaling openness to crypto-related banking structures focused on payments and settlement rather than speculative trading.
Recent months have seen U.S. authorities grant preliminary approvals or review applications from multiple crypto-native firms seeking trust bank status, reflecting an effort to bring stablecoin activity within the traditional banking perimeter.
Political and regulatory scrutiny expected
The involvement of a venture linked to the Trump family is likely to draw heightened political and regulatory scrutiny, particularly as U.S. lawmakers continue to debate stablecoin legislation and the role of digital assets in the financial system.
Regulators have not disclosed a timeline for reviewing the application, and approval is not guaranteed.
