USD1, the stablecoin issued by World Liberty Financial, reached a market capitalization of $4 to $5 billion within 17 months of its March 2025 launch, placing it among the five largest stablecoins globally. The Office of the Comptroller of the Currency granted World Liberty Financial preliminary conditional approval for a national trust bank charter in mid-August 2026, a milestone CEO Zach Witkoff presents as institutional validation that USD1’s success stems from market demand rather than political cronyism. A Trump-affiliated entity holds approximately 60% of World Liberty Financial and is entitled to 75% of net proceeds from certain token sales, with the Trump family reportedly having already realized hundreds of millions of dollars, ties that prompted Senator Elizabeth Warren and other Democrats to challenge the granting of a federal bank charter. If finalized, the charter would allow World Liberty Financial to issue and custody USD1 directly, giving it a significant competitive edge over Circle and USDC, though a change in administration could mean intensified scrutiny of every approval the company has received.
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