Trump-Backed Crypto Firm Wins Conditional Bank Charter Approval
A crypto firm backed by President Donald Trump's family has received conditional approval for a bank charter from the Office of the Comptroller of the Currency (OCC). World Liberty Trust Company, sponsored by World Liberty Financial, will now be able to issue stablecoins, a type of cryptocurrency pegged to safe assets like U.S. Treasurys.
The OCC has emphasized its support for new bank charter applications under Trump, and since 2025 has received 40 such applications - a significant increase compared to President Joe Biden's term. Many of these applications are tied to crypto projects.
World Liberty Financial is 38% owned by an entity affiliated with Donald J. Trump and certain family members, according to its website. The company currently relies on BitGo for some stablecoin services but will bring those in-house with the new charter.