Trump's Crypto Bank Gets OCC Approval Despite UAE Ties

The Office of the Comptroller of the Currency (OCC) granted conditional approval to World Liberty Trust Company, National Association, a federally regulated national trust bank, on August 14, 2026.

The bank will issue and redeem USD1, a stablecoin with more than $4 billion in circulation, maintain reserve assets backing the stablecoin, provide fiduciary custody services, and offer conversion services between approved stablecoins and USD1.

The largest single shareholder in the holding company behind the bank is an entity controlled by Sheikh Tahnoon bin Zayed al Nahyan, the UAE's national security advisor and brother of its president, who holds 49% through StringZ Holding RSC. The Trump family owns 38%.