OCC Grants Approval for Trump-Linked Stablecoin Bank

The Office of the Comptroller of the Currency has granted preliminary conditional approval for World Liberty Trust to organize as a national trust bank focused on the USD1 stablecoin.

Partially owned by President Donald Trump, World Liberty Trust must still raise the required capital, pass a preopening examination, and receive final authorization before it can begin banking operations.

The emergence of a regulated pathway for stablecoins in a market worth nearly $300 billion could be a bullish signal for the broader crypto market.

World Liberty Trust is connected to World Liberty Financial, which backs the USD1 stablecoin. The proposed bank's business would revolve around issuing and redeeming USD1, managing its reserves, and providing digital-asset custody to institutional customers.