OCC Approves Conditional Bank Charter for Trump-Backed Crypto Firm
A conditional approval for World Liberty Financial's bank charter has been granted by the US Office of the Comptroller of the Currency (OCC). This decision effectively greenlights the expansion of its stablecoin operations. The charter, if ultimately approved, would allow World Liberty to manage and hold assets on behalf of customers nationwide under a single federal charter.
The OCC said it had granted conditional preliminary approval for World Liberty Trust Company's application for a national trust charter in January. This decision is subject to conditions, including notifying the regulator of any major business plan changes and maintaining at least $20 million in capital.
World Liberty Financial has been linked to President Donald Trump and his family's crypto venture. The company's leadership is deeply intertwined with Trump's longtime allies, the Witkoff family. Zach Witkoff, son of Steve Witkoff, serves as World Liberty Trust's president and chairman.