Trump Family Crypto Venture Inches Closer to Federally Regulated Bank Charter

The Trump family's cryptocurrency venture, World Liberty Financial, has taken a significant step towards obtaining a federal bank charter. The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval to their application for World Liberty Trust Company, N.A.

Headquartered in Bay Harbor Islands, Florida, the proposed trust company would be a wholly owned subsidiary of WLTC Holdings LLC and issue the $1 stablecoin, USD1. The token, launched in March 2025, has grown to about $4 billion in market capitalization, making it the fourth-largest stablecoin.

The OCC requires World Liberty Trust Company to meet several pre-opening requirements before receiving authorization to begin business. These include maintaining at least $20 million in capital and establishing risk-management, compliance, and internal-audit functions.