World Liberty Financial Gets Green Light for US Bank Charter Amid Trump-Backed Push
The US Office of the Comptroller of the Currency (OCC) has granted conditional approval to World Liberty Financial, a cryptocurrency project backed by the Trump family, to establish a national trust bank in the US.
This development allows World Liberty Trust Company, the entity that applied for the national trust bank charter earlier this year, to bring its USD1 stablecoin issuance and custody under federal supervision.
World Liberty would be able to issue the stablecoin directly, custody the assets backing it, and provide custodial services once the new bank becomes operational.
The approval is conditional and requires World Liberty to satisfy OCC requirements, including maintaining at least $20 million in capital and passing pre-opening examinations.
World Liberty's native token WLFI saw an immediate price uptick following the news, surging 5.5% to a local peak of $0.06 before being rejected and returning to its previous price.