OCC Approves National Trust Bank Charter for Trump-Linked Crypto Firm

The Office of the Comptroller of the Currency (OCC) has conditionally approved World Liberty Trust Company's application for a national trust bank charter.

This approval could allow the company to issue stablecoins backed by U.S. Treasurys, potentially increasing profitability.

World Liberty Financial, which is 38% owned by an entity affiliated with Donald Trump and his family, aims to bring stablecoin services in-house rather than relying on third parties like BitGo.

The application still requires additional steps, including raising capital, and has drawn criticism from Democrats concerned about Trump's financial stake in crypto ventures.