US regulator approves conditional bank charter for Trump-linked crypto firm World Liberty Financial
The U.S. Office of the Comptroller of the Currency (OCC) conditionally approved a national trust bank charter for World Liberty Trust Company, a crypto venture 38% owned by an entity affiliated with President Donald Trump and his family. The charter allows the firm to issue its USD1 stablecoin directly, custody assets, and settle payments faster, but prohibits deposit-taking or lending. The approval, part of a trend under Trump-appointed Comptroller Jonathan Gould, requires $20 million in capital and has drawn criticism from Democratic lawmakers citing conflicts of interest and national security concerns over UAE-linked investments.
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Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, the crypto venture backed by President Donald Trump and his family. The proposed institution, World Liberty Trust Company, based in Bay Harbor Islands, Florida, plans to issue and redeem USD1 stablecoin, taking over from BitGo. It will also provide digital-asset custody as a fiduciary. The approval includes a $20 million minimum capital requirement and compliance with the GENIUS Act. The OCC dismissed objections about potential conflicts of interest involving Trump, his family, and Emirati investors, noting World Liberty Financial itself is not a party to the application. Senator Elizabeth Warren has criticized the OCC's crypto charter approvals as illegal. The bank has 18 months to open.
Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, the crypto venture backed by President Donald Trump and his family. The proposed institution, World Liberty Trust Company, National Association, based in Bay Harbor Islands, Florida, plans to issue and redeem USD1, a dollar-pegged stablecoin, taking over from BitGo. It will also offer digital-asset custody. The approval includes a $20 million minimum capital requirement and compliance with the GENIUS Act stablecoin law. The OCC dismissed objections about potential conflicts of interest involving President Trump, his family, and Emirati investors, stating those concerns were outside its review scope. Senator Elizabeth Warren has criticized such crypto charter approvals as illegal. The bank has 18 months to open.
Trump family-backed crypto firm World Liberty gets conditional bank charter approval
The Office of the Comptroller of the Currency (OCC) has conditionally approved a national trust bank charter for World Liberty Trust Co., a firm affiliated with World Liberty Financial, which is 38% owned by an entity tied to President Donald Trump and his family. The charter allows the company to issue stablecoins in-house, reducing reliance on third-party providers like BitGo. The approval process requires additional steps, including capital raising. The OCC under Trump has seen a surge in bank charter applications, many from crypto projects. Democratic Senator Elizabeth Warren criticized the approval as an act of self-dealing, arguing it allows a sitting president to operate his own bank. Warren and colleagues plan to introduce legislation barring presidents and senior officials from owning or controlling banks. The OCC declined to comment.
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Trump family-backed crypto firm World Liberty gets conditional bank charter approval
The Office of the Comptroller of the Currency (OCC) has conditionally approved a national trust bank charter for World Liberty Trust Co., a firm sponsored by World Liberty Financial, which is 38% owned by an entity affiliated with President Donald Trump and his family. The charter will allow the company to issue stablecoins in-house, reducing reliance on third parties like BitGo. The approval has drawn sharp criticism from Democratic lawmakers, including Senator Elizabeth Warren, who called it an act of self-dealing and announced plans to introduce legislation preventing presidents and senior officials from owning or controlling banks. The OCC, under Trump, has seen a surge in bank charter applications, many tied to crypto projects. The charter process requires additional steps, including capital raising, before finalization.
Trump-appointed regulator approves banking license for Trump-linked crypto firm World Liberty Financial
A U.S. regulator appointed by former President Donald Trump has granted preliminary approval for a banking license to World Liberty Financial, a cryptocurrency venture linked to the Trump family. The Office of the Comptroller of the Currency (OCC) issued a conditional bank charter, allowing the firm to move toward launching a bank. This development has drawn attention due to the direct connection to the Trump family and the regulator's political appointment. Multiple major outlets including Politico, WSJ, CNBC, Fox Business, and Financial Times reported the story, highlighting the significance of a crypto firm with political ties receiving regulatory approval.
US regulator conditionally approves bank charter for Trump-backed crypto firm World Liberty Financial
The U.S. Office of the Comptroller of the Currency (OCC) has conditionally approved a national trust bank charter for World Liberty Trust Company, a crypto venture linked to President Donald Trump and his family. The charter, applied for in January, would allow World Liberty to directly issue its USD1 stablecoin, custody backing assets, and settle payments under federal supervision, replacing its current reliance on partner BitGo. Conditions include maintaining $20 million in capital and hiring an internal audit manager. The OCC noted concerns about non-U.S. investors but accepted passivity agreements from several, including one signed by Eric Trump. The firm's leadership is intertwined with Trump allies, notably the Witkoff family. This approval marks a milestone for crypto firms seeking federal charters under Trump-appointed Comptroller Jonathan Gould.
World Liberty Receives Conditional OCC Approval to Issue USD1 Stablecoin Through National Trust Bank
World Liberty Financial (CRYPTO: WLFI) has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter for its subsidiary, World Liberty Trust Company. This approval allows the Trump family-backed crypto firm to directly issue its USD1 stablecoin (CRYPTO: $USD1) and custody the underlying U.S. dollar reserves, functions currently handled by BitGo. The national trust structure provides a single federal framework for custody, asset servicing, and settlement, targeting institutional clients. Conditions include maintaining at least $20 million in capital and appointing a qualified internal audit manager. USD1, launched in 2025, has a market capitalization of roughly $4 billion, making it the fourth-largest stablecoin. The application has drawn political scrutiny due to ties to President Donald Trump, though the OCC stated career staff handled the review ethically.
Trump family-backed crypto firm World Liberty gets conditional bank charter approval
The Office of the Comptroller of the Currency (OCC) has conditionally approved a national trust bank charter for World Liberty Trust Company, a firm sponsored by World Liberty Financial. The crypto company, which states on its website that an entity affiliated with President Donald Trump and his family owns 38% of it, can now bring stablecoin services in-house instead of relying on third parties like BitGo. The charter approval process requires additional steps, including capital raising. The OCC under Trump has seen a surge in bank charter applications, many tied to crypto projects. Democratic Senator Elizabeth Warren had urged the OCC to reject the application unless Trump divested his interests. World Liberty Financial CEO Zach Witkoff, son of Trump's Middle East negotiator, welcomed continued regulatory scrutiny.
World Liberty Wins Bank Charter From Trump-Appointed Regulator for $4 Billion Stablecoin
The Office of the Comptroller of the Currency (OCC), led by Trump appointee Jonathan Gould, conditionally approved a national trust charter for World Liberty Trust Company, the issuer of the $4 billion USD1 stablecoin. The decision allows the Trump family-linked firm to issue and redeem USD1 in-house and custody its backing assets. Congressional Democrats had warned of a conflict of interest, but the OCC stated career staff handled the review. Final approval requires meeting conditions including a $20 million capital floor. Trump family earnings from USD1 are estimated at $50 million through June 2026. The charter places World Liberty among a growing list of crypto firms gaining federal bank standing.
US regulator approves bank charter for Trump-backed crypto company World Liberty Financial
The U.S. Office of the Comptroller of the Currency (OCC) conditionally approved a national trust bank charter for World Liberty Trust Company, a crypto venture linked to President Donald Trump and his family. The charter, applied for in January 2026, would allow World Liberty to issue its USD1 stablecoin directly, custody backing assets, and settle payments faster, though it does not permit deposit-taking or lending. The approval is part of a broader trend under Trump-appointed Comptroller Jonathan Gould, with similar charters granted to Ripple and Circle. The charter requires maintaining at least $20 million in capital and other conditions. The firm's leadership is deeply tied to Trump allies, including the Witkoff family. Democratic senators had previously raised national security concerns over a reported $500 million UAE-linked investment in the firm. The OCC noted it received passivity agreements from non-U.S. investors, including from Eric Trump, to prevent control or influence over the bank.