OCC Grants Conditional Approval to Trump-Linked Crypto Venture's National Trust Bank Charter

The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for World Liberty Trust Company, National Association to organize as a national trust bank. This decision gives the Trump family-linked crypto venture a federal regulatory stamp that most digital asset companies can only dream about.

World Liberty Financial submitted its application in January 2026, and after a 221-day review process, the OCC has granted preliminary approval for World Liberty Trust to directly issue, redeem, and custody its USD1 stablecoin under federal oversight. This is a significant upgrade from the current setup, where BitGo manages the stablecoin.

The charter would not allow World Liberty Trust to accept insured deposits or make loans. The USD1 stablecoin launched in March 2025, backed by cash, US Treasuries, and money-market funds, operating across multiple blockchains including Ethereum, Solana, and Tron. An entity affiliated with the Trump family holds a 38% ownership stake in World Liberty Financial.

The OCC's approval comes at a critical time as the Senate debates the Digital Asset Market Clarity Act (CLARITY Act), which aims to address conflicts of interest when public officials or their family members profit from crypto ventures. Opponents can point to the OCC's rigorous review process as evidence that existing regulatory frameworks are sufficient, while supporters argue that the approval demonstrates why new guardrails are necessary.