Trump-Backed Crypto Venture Wins Conditional Approval for National Trust Bank Charter

The Trump administration has granted conditional approval for World Liberty Financial's national trust bank charter, allowing the company to directly issue and manage its $4 billion USD1 stablecoin.

The Office of the Comptroller of the Currency (OCC) approved the charter for World Liberty Trust Company, a proposed national trust bank tied to World Liberty Financial. The new entity will be headquartered in Bay Harbor Islands, Florida, and will take over issuance and redemption of the USD1 stablecoin.

The approval comes with conditions, including maintaining at least $20 million in capital, with half held in liquid assets, before the OCC signs off completely. World Liberty Trust will not be allowed to accept FDIC-insured deposits or issue conventional loans, limiting its scope to trust and custody-related banking activities.