🛑 World Liberty Receives Conditional OCC Charter Nod, Raising Questions Over USD1 and Trump Ties
Washington — World Liberty Financial (WLF), the Trump family-affiliated cryptocurrency venture, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter.
The approval is not yet a final banking license. Before receiving full authorization, World Liberty Trust Company must satisfy several conditions, including maintaining at least $20 million in capital, appointing a qualified internal audit manager and notifying the OCC about major changes to its business plan.
If finalized, the charter could significantly expand WLF’s role in the digital-asset market. A national trust bank could provide services such as asset custody, reserve management and settlement without operating like a traditional deposit-taking bank.
For USD1, World Liberty’s dollar-backed stablecoin, the move could be especially important. Greater control over issuance, custody and reserves under a federally supervised entity could reduce reliance on outside partners and potentially make USD1 more appealing to institutional users.
The decision has also intensified concerns over potential conflicts of interest because of WLF’s ties to President Donald Trump and his family. Senator Elizabeth Warren has criticized the approval and previously called for Trump to divest his stake in the company.
Meanwhile, the transfer of 25.729 million WLFI tokens to Gate has added another layer of scrutiny around the project’s token distribution.
The OCC decision therefore represents a major regulatory step for World Liberty—but final approval remains subject to additional requirements.
Washington — World Liberty Financial (WLF), the Trump family-affiliated cryptocurrency venture, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter.
The approval is not yet a final banking license. Before receiving full authorization, World Liberty Trust Company must satisfy several conditions, including maintaining at least $20 million in capital, appointing a qualified internal audit manager and notifying the OCC about major changes to its business plan.
If finalized, the charter could significantly expand WLF’s role in the digital-asset market. A national trust bank could provide services such as asset custody, reserve management and settlement without operating like a traditional deposit-taking bank.
For USD1, World Liberty’s dollar-backed stablecoin, the move could be especially important. Greater control over issuance, custody and reserves under a federally supervised entity could reduce reliance on outside partners and potentially make USD1 more appealing to institutional users.
The decision has also intensified concerns over potential conflicts of interest because of WLF’s ties to President Donald Trump and his family. Senator Elizabeth Warren has criticized the approval and previously called for Trump to divest his stake in the company.
Meanwhile, the transfer of 25.729 million WLFI tokens to Gate has added another layer of scrutiny around the project’s token distribution.
The OCC decision therefore represents a major regulatory step for World Liberty—but final approval remains subject to additional requirements.