World Liberty Financial’s trust company has received the U.S. Office of the Comptroller of the Currency’s preliminary conditional approval, allowing it to continue applying to become a nationwide trust bank.
However, this is not yet a complete commercial banking license. Trust banks typically do not accept deposits or make loans. World Liberty must meet regulatory requirements and pass a final inspection before it can officially begin operations.
If it receives final approval, the company will be able to issue, redeem, and custody USD1. This stablecoin is currently custodied by BitGo’s reserve, with a market cap of approximately $4 billion.
$WLFI
However, this is not yet a complete commercial banking license. Trust banks typically do not accept deposits or make loans. World Liberty must meet regulatory requirements and pass a final inspection before it can officially begin operations.
If it receives final approval, the company will be able to issue, redeem, and custody USD1. This stablecoin is currently custodied by BitGo’s reserve, with a market cap of approximately $4 billion.
$WLFI