The US Office of the Comptroller of the Currency (OCC) granted conditional approval for World Liberty Financial to operate as a national trust bank. The company will run under the title World Liberty Trust Company, National Association. The approval is subject to regulatory and policy requirements that the OCC did not detail. The charter lets the firm issue US dollar-backed stablecoins and custody digital assets tied to its USD1 token. The OCC said its staff acted consistently with statutory duties and ethical obligations. President Donald Trump and his three sons are affiliated with the company, and a Trump family entity controls 38% of its equity. The OCC head, Jonathan Gould, was nominated by Trump in 2025. In response, Senator Elizabeth Warren and nine other senators introduced the Ending Presidential Corruption in Banking Act. Lawmakers have also pointed to foreign ties: an Abu Dhabi investment firm backed by Sheikh Tahnoon bin Zayed Al Nahyan acquired a 49% stake in World Liberty in January 2025 for $500 million, and UAE entity MGX used the USD1 stablecoin to invest $2 billion in Binance. The White House has said there were no conflicts of interest. The OCC had already approved charter applications from Circle, Ripple Labs, Crypto.com and Coinbase in December after the GENIUS stablecoin bill passed.
Cointelegraph / US Office of the Comptroller of the Currency