US regulator approves bank charter for Trump-backed crypto company World Liberty Financial
The charter would let World Liberty issue and custody its USD1 stablecoin while expanding services for institutional crypto clients, the company said.
- On Friday, the Office of the Comptroller of the Currency granted conditional preliminary approval for World Liberty Trust Company's national trust charter application, greenlighting expansion of its stablecoin operations.
- Sponsored by World Liberty Financial, which is 38% owned by an entity affiliated with President Donald Trump and his family, the trust applied in January to serve institutional cryptocurrency exchanges and investment firms.
- This charter allows the trust to directly issue its USD1 stablecoin and custody U.S. dollar assets, currently handled by third-party partner BitGo, enabling faster settlement and broader asset management.
- Conditions for approval require the firm to maintain at least $20 million in capital and hire an internal audit manager; the OCC stated staff "acted consistently with their statutory duties and ethical obligations."
- Other crypto firms, including Ripple and Circle, have received similar preliminary approvals under Comptroller Jonathan Gould, as the industry seeks federal charters to court major institutional clients nationwide.
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37 Articles
US regulator approves bank charter for Trump-backed crypto company World Liberty Financial
A national U.S. bank regulator on Friday conditionally approved a bank charter application linked to President Donald Trump and his family’s crypto venture, World Liberty Financial, effectively greenlighting an expansion of its stablecoin operations.
'Never seen corruption of this magnitude': Horror as Trump family closer to launching bank
The Trump family's pathway to opening a bank through its cryptocurrency investments is sending shockwaves, according to reporting by the Wall Street Journal.A trust company for World Liberty Financial, the Trump family's flagship crypto venture, has preliminary conditional approval to become a bank,...
Fox Business
The New York LedgerTrump-linked World Liberty crypto venture gets preliminary approval from currency comptroller
The Office of the Comptroller of the Currency (OCC) on Friday granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, a crypto venture partially owned by President Donald Trump's family.The decision, announced in a letter posted on the OCC's website, advances World Liberty Financial's plans to establish a national trust bank focused in part on issuing and managing the USD1 stablecoin.World Liberty Trus…
Reforma
The cryptocurrency company World Liberty Financial, linked to the Trump family, received preliminary approval to become a bank.
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