Trump Family's Crypto Venture Gets Approval to Issue $4 Billion Stablecoin

The Trump family's crypto venture, World Liberty Financial, has been granted approval by the Office of the Comptroller of the Currency (OCC) to issue and redeem a stablecoin called USD1.

The OCC charters national banks, and in August 2024, it cleared World Liberty Trust Company to issue and redeem USD1.

The bank is owned by WLTC Holdings, a Delaware company with a shareholder split mirroring that of World Liberty Financial.

An entity tied to Sheikh Tahnoon bin Zayed al Nahyan holds 49% of the ownership, according to The Wall Street Journal, while a Trump family entity holds 38%.

The regulator never lists percentages in public decisions, and both figures are based on people familiar with the matter.