Just saw @zakfolkman’s boss post—@worldlibertyfi has received OCC approval to establish a national trust bank.
I said this back in February. At the time, WLFI had already clearly indicated it was applying. After six months of hard work, they finally got approved.
1️⃣ Who are the companies that hold this license?
Ripple, Bridge (Stripe’s subsidiary), Paxos, Fidelity Digital, Erebor Bank, Crypto.com, BitGO—plus the one that just went public on the Nasdaq.
They’re all top-tier companies in the industry. From who holds this license, you can see how valuable the license really is.
2️⃣ What is this license for?
1. Put simply: because the U.S. is formed step by step by 50 independent “political entities.” Each state has its own distinct history and cultural foundation before joining the federation. And since the federal government supports states in implementing their own特色 policies, different states have different laws.
So to go through the compliant route, you’d need to apply state by state.
Now with this license, companies holding it can do trusts, custody, asset management/safekeeping, and related financial services under a single federal regulatory framework—rather than applying state by state or relying on partner banks.
Having this license = a “regulatory passport” into the U.S. mainstream financial system.
2. About those who said the team would run off—there was risk before. Now, it should be considered totally dead in the water.
I’ve run into FUD about WLFI several times this year.
With the endorsement effect brought by this license...
Combining this with the first point: who gets it, who has it—its value is crystal clear.
3. For WLFI, it’s essentially USD1 receiving national-level recognition.
USD1 receiving national recognition → naturally gives it a first-mover advantage in enterprise adoption of digital dollars.
Even though we can’t say USD1 *is* digital dollars, this kind of endorsement will remain solid in the future stablecoin wave.
Countless U.S.—and even worldwide—companies, when thinking about stablecoins, will treat USD1 as one of the key options.
$WLFI
I said this back in February. At the time, WLFI had already clearly indicated it was applying. After six months of hard work, they finally got approved.
1️⃣ Who are the companies that hold this license?
Ripple, Bridge (Stripe’s subsidiary), Paxos, Fidelity Digital, Erebor Bank, Crypto.com, BitGO—plus the one that just went public on the Nasdaq.
They’re all top-tier companies in the industry. From who holds this license, you can see how valuable the license really is.
2️⃣ What is this license for?
1. Put simply: because the U.S. is formed step by step by 50 independent “political entities.” Each state has its own distinct history and cultural foundation before joining the federation. And since the federal government supports states in implementing their own特色 policies, different states have different laws.
So to go through the compliant route, you’d need to apply state by state.
Now with this license, companies holding it can do trusts, custody, asset management/safekeeping, and related financial services under a single federal regulatory framework—rather than applying state by state or relying on partner banks.
Having this license = a “regulatory passport” into the U.S. mainstream financial system.
2. About those who said the team would run off—there was risk before. Now, it should be considered totally dead in the water.
I’ve run into FUD about WLFI several times this year.
With the endorsement effect brought by this license...
Combining this with the first point: who gets it, who has it—its value is crystal clear.
3. For WLFI, it’s essentially USD1 receiving national-level recognition.
USD1 receiving national recognition → naturally gives it a first-mover advantage in enterprise adoption of digital dollars.
Even though we can’t say USD1 *is* digital dollars, this kind of endorsement will remain solid in the future stablecoin wave.
Countless U.S.—and even worldwide—companies, when thinking about stablecoins, will treat USD1 as one of the key options.
$WLFI