The crypto market is迎来一个 interesting turning point. Once critical of digital assets, a well-known figure's backing project, World Liberty Financial, recently officially submitted a banking license application to the Office of the Comptroller of the Currency (OCC). This marks the project's plan to shift from a decentralized platform to a federally regulated full-stack banking entity.

The background of this shift is worth noting. Over the past year, the family behind the project has rapidly expanded into the crypto space—from launching NFTs and MEME coins to issuing a USD1 stablecoin pegged to the US dollar. Data shows that USD1 reached a circulation of $3.3 billion in its first year, demonstrating significant market demand for such products. Now, applying for a banking license is essentially an effort to secure official status for USD1, upgrading from an informal to a formal entity.

The key significance of this move lies in targeting the institutional market. The biggest obstacle for institutional investors entering crypto today is compliance and fund security. Obtaining a federal regulatory license allows the project to legally issue and custody stablecoins, which will undoubtedly alleviate concerns among institutional users. The existing circulation of USD1, at $3.3 billion, proves the market foundation, and regulatory approval will further open up institutional adoption.

This case reflects a larger trend—crypto assets are moving closer to mainstream finance, and the development of regulatory frameworks is attracting more traditional financial participants. For the entire industry, this presents both challenges and opportunities.