A new development in the cryptocurrency world. A Web3 project closely connected to the political sphere is making strides within the US financial regulatory system—World Liberty Financial has submitted a formal application to the Office of the Comptroller of the Currency (OCC) for a nationwide trust bank license. What does this move imply?

The most immediate impact is independence. Once licensed, this project will have the authority to issue, custody, and exchange USD1 stablecoins autonomously, freeing itself from reliance on existing third-party custody providers. The logic behind this is clear—controlling the infrastructure means controlling pricing power and liquidity.

Numbers speak for themselves. Within just one year of USD1’s launch, the circulation volume has exceeded $3.3 billion, reportedly setting a record in stablecoin history. This not only reflects the market’s openness to new entrants but also indicates that competition around stablecoins is intensifying. After Circle and Ripple, regulators seem to be gradually opening the door to crypto banking licenses.

The planned banking structure is also quite interesting—it primarily targets market makers, exchanges, and institutional clients rather than retail investors. In other words, it’s building a professional-grade stablecoin settlement channel. This B2B positioning creates a differentiated competition from retail-friendly stablecoin ecosystems.

It’s worth noting that the CEO has proactively clarified potential conflicts of interest. However, given this background, the approval process for this license will inevitably become a focal point of US financial regulation—policy friendliness, approval timelines, and the final outcome could all serve as barometers for the industry to gauge the US attitude.