Trump Family Crypto Venture Inches Closer to Federal Bank Charter
The Office of the Comptroller of the Currency has granted preliminary conditional approval to World Liberty Financial's charter application, moving the Trump family-tied cryptocurrency venture closer to operating a federally regulated national trust bank.
The proposed bank would issue and redeem USD1 stablecoin, maintain reserves backing the token, and provide digital-asset custody and related services. Unlike a traditional commercial bank, the trust company would not take deposits or make loans.
World Liberty Trust Company, N.A., would be headquartered in Bay Harbor Islands, Florida, and operate as a wholly owned subsidiary of WLTC Holdings LLC. The approval is not final; World Liberty must satisfy several pre-opening requirements before receiving authorization to begin business.
The company's USD1 stablecoin has grown to about $4 billion in market capitalization since its launch in March 2025, making it the fourth-largest stablecoin. The OCC said career staff conducted the review and that Comptroller Jonathan Gould and agency employees acted consistently with their statutory and ethical obligations.