Trump-Linked World Liberty Financial Wins Conditional Approval for Bank Charter
World Liberty Financial (CRYPTO: WLFI), a cryptocurrency platform co-founded by members of the Trump family, has secured conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The approval is for World Liberty Trust Co., which would let the firm issue stablecoins directly.
The charter will allow the company to move away from third-party provider BitGo (NYSE: BTGO), and instead peg its stablecoins to assets like U.S. Treasuries, making them redeemable one-to-one for dollars. The approval is conditional, not final, and World Liberty must still raise capital and complete additional regulatory steps before the charter takes full effect.
World Liberty Financial CEO Zach Witkoff said in a statement that the company 'welcomes continuous scrutiny from federal regulators for many years to come.'