The Office of the Comptroller of the Currency granted preliminary conditional approval on August 14 for a national trust bank charter to World Liberty Trust Company, a crypto venture backed by the Trump family, enabling it to issue and manage its USD1 stablecoin under federal oversight.
The conditional approval, documented in OCC Corporate Decision #1385, allows World Liberty Financial to proceed toward operating as a limited-purpose national trust bank based in Bay Harbor Islands, Florida. The charter would permit the issuance, reserve management, and redemption of the USD1 stablecoin, along with digital asset custody and related fiduciary services.
The approval does not constitute a full-service commercial bank charter. World Liberty Trust Company will be prohibited from accepting federally insured deposits or making loans, operating instead as a specialized entity focused on stablecoin infrastructure.
The Trump family and affiliates hold approximately 38% ownership in World Liberty Financial, raising questions about potential conflicts of interest given the president's influence over regulatory appointments. Critics including Senator Elizabeth Warren have raised concerns about the intersection of political power and financial gain.
The charter application was filed in January 2026 and represents a significant milestone for the stablecoin industry, which has sought greater regulatory clarity. If finalized, World Liberty Trust Company would become one of the first crypto-native entities to operate under a federal banking charter.
Final approval remains contingent on satisfying additional regulatory conditions. The OCC's decision reflects a broader trend of federal regulators creating pathways for cryptocurrency firms to access traditional banking infrastructure while maintaining appropriate safeguards.
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