The U.S. Office of the Comptroller of the Currency conditionally approved a national trust bank charter for World Liberty Financial, a crypto venture linked to the Trump family. The charter permits direct stablecoin issuance and asset custody but prohibits deposit-taking and lending. The approval drew criticism from Democratic lawmakers over conflict of interest and national security concerns.
- The OCC conditionally approved a national trust bank charter for World Liberty Trust Company, which is 38% owned by an entity affiliated with the Trump family.
- The charter allows direct issuance of the USD1 stablecoin and asset custody, but bars deposit-taking and lending, with a $20 million capital requirement.
- Democratic lawmakers criticized the approval, citing conflicts of interest and national security concerns over UAE-linked investments.