Trump Family's Crypto Company Gets Approval to Open National Trust Bank
World Liberty Financial (WLF), a cryptocurrency company owned by President Donald Trump and his family, has received preliminary conditional approval from the Office of the Comptroller of the Currency to establish a new national trust bank.
The approval was announced in a letter issued on Friday, stating that WLF's application to open their own bank had been granted. However, final approval will not be given until all pre-opening requirements are met.
WLF is run by President Trump and his two eldest sons, Don Jr. and Eric, who launched the company in October 2024 alongside other entrepreneurs. In May 2025, WLF went public on the stock market.
The approval comes as the Trump family continues to face scrutiny for profiting from their time in office. Last month, it was revealed that President Trump made around $1.2 billion in income from his crypto activities in 2025, with $550 million coming from WLF.