BitGo, a crypto trust and custody firm, is pursuing a bank charter, according to the Wall Street Journal, to expand its regulatory positioning and support upcoming projects such as the Trump-backed USD1 stablecoin, for which it is expected to act as custodian

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Several crypto firms — including stablecoin issuer Circle and trust company BitGo — plan to apply for U.S. bank charters and licenses, according to a new report in The Wall Street Journal

World Liberty Financial, the Trump family’s crypto project, unveiled plans to launch a stablecoin called USD1 last month. It said the stablecoin’s reserves would be safeguarded by crypto custodian BitGo, which is getting close to submitting the bank charter application

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