World Liberty Trust Company receives conditional OCC bank charter approval

World Liberty Financial USD1 stablecoin national trust charter Office of the Comptroller of the Currency crypto banking

The Office of the Comptroller of the Currency (OCC) has granted conditional preliminary approval to World Liberty Trust Company, a venture linked to Donald Trump and his family, for a national trust charter. This regulatory milestone allows the entity to potentially bring the operations of the USD1 stablecoin in-house, moving away from its current reliance on BitGo for issuance and custody.

The USD1 stablecoin currently holds a market capitalization of approximately $4 billion. Once final approval is secured, the trust company will be authorized to issue and redeem the stablecoin, manage its dollar-backed reserves, and provide digital asset custody services to institutional clients, such as cryptocurrency exchanges and investment firms.

Unlike traditional commercial banks, this national trust charter does not permit the company to accept federally insured deposits or engage in conventional lending. To achieve final authorization, World Liberty Trust must meet several pre-opening requirements, including maintaining at least $20 million in capital and fulfilling specific regulatory benchmarks. The decision has drawn scrutiny from some lawmakers regarding potential conflicts of interest, though the OCC stated the review was conducted by career staff following standard procedures.

Entities

BitGo · Donald Trump · Jonathan Gould · Office of the Comptroller of the Currency · World Liberty Financial · World Liberty Trust Company · Zach Witkoff

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 14 SOURCES] The charter allows World Liberty Financial to directly issue its USD1 stablecoin and custody the U.S. dollar assets backing it. mix929.com · kfgo.com · wsau.com · koinbulteni.com · www.spacemoney.com.br · +7 more
[● 14 SOURCES] The trust company aims to serve institutional customers, including investment firms and cryptocurrency exchanges. mix929.com · kfgo.com · wsau.com · koinbulteni.com · wixx.com · +7 more
[● 14 SOURCES] The Office of the Comptroller of the Currency granted conditional preliminary approval for World Liberty Trust Company’s national trust charter application. mix929.com · kfgo.com · wsau.com · koinbulteni.com · www.spacemoney.com.br · +7 more
[● 12 SOURCES] The national trust charter does not generally permit deposit-taking or lending like traditional banks. mix929.com · kfgo.com · wsau.com · wixx.com · koinbulteni.com · +5 more
[● 9 SOURCES] The USD1 stablecoin has a market capitalization of approximately $4 billion. cryptobriefing.com · koinbulteni.com · diario.mx · dnyuz.com · news.bitcoin.com · +2 more
[● 8 SOURCES] The company must meet additional pre-opening requirements, such as capital-raising benchmarks, before final approval. koinbulteni.com · mix929.com · www.spacemoney.com.br · news.bitcoin.com · time.news · +2 more