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According to The Wall Street Journal, World Liberty Financial stated that its subsidiary, World Liberty Trust, submitted a de novo application to the Office of the Comptroller of the Currency (OCC) on January 7th, seeking to obtain a national trust bank license in the United States to enable direct issuance and custody of its USD1 stablecoin. The company said that if the application is approved, the trust bank will gradually develop crypto asset custody and stablecoin exchange services, primarily serving institutional clients.