Trump-backed WLFI seeks US banking charter as stablecoin grows

Trump-backed World Liberty Financial filed to become a US national trust bank as circulation of its dollar-backed stablecoin, USD1, reached about $3.4 billion. The firm says federal oversight could help it integrate with the financial system and attract institutional clients. USD1 is now the seventh-largest stablecoin, with most supply on Binance Smart Chain and Ethereum.