US regulator approves bank charter for Trump-backed crypto company World Liberty Financial
The approval could let World Liberty issue and custody its USD1 stablecoin in-house, while the token’s market value is about $4 billion, Reuters reported.
- 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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Trump Administration Greenlights World Liberty Financial Bank Charter
World Liberty Financial, the stablecoin and trading platform co-founded by President Donald Trump and his three sons, was conditionally approved for a national trust bank charter on Friday. Altaf Qadri/APThe Trump administration conditionally approved a charter that would allow his family’s crypto venture to act like a bank, in an unprecedented arrangement that will enable the president’s family to pocket interest earned from corporate transacti…
Trump Family Crypto Empire Wins Approval for Bank Charter
The Office of the Comptroller of the Currency, a regulatory agency whose leader was chosen by President Donald Trump, granted preliminary approval on Friday to World Liberty Financial’s application for a federal bank charter. World Liberty Financial is a crypto venture launched in 2024 by the president’s two eldest sons, Donald Trump Jr. and Eric Trump, and several partners. Source
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.
World Liberty Financial gets OCC nod for USD1 bank
World Liberty Financial has received preliminary OCC approval to establish a national trust bank that would oversee more than $4 billion in USD1 stablecoin circulation. World Liberty Financial must meet OCC conditions The Office of the Comptroller of the Currency…
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