Trump-Linked World Liberty Trust Gets Conditional Approval for Stablecoin

World Liberty Trust Company, linked to President Donald Trump and his family's crypto venture World Liberty Financial, has received conditional approval from the US banking regulator to launch its own $1 stablecoin.

The company must keep a minimum of $20 million in capital and hire an internal audit manager. Additionally, non-US investors have agreed not to interfere via 'passivity agreements.'

World Liberty Trust president Zach Witkoff called the conditional approval a 'milestone' for bringing its stablecoin under federal oversight.

However, lawmakers are raising concerns about potential conflicts of interest due to the Trump family's involvement and a reported $500 million investment in a deal linked with the United Arab Emirates' national security adviser.