Odaily Star Daily reports that the U.S. Office of the Comptroller of the Currency (OCC) has conditionally approved World Liberty Financial’s application for a national trust bank charter, subject to regulatory and policy requirements. Upon approval, the company may operate under the name World Liberty Trust Company, National Association. The company’s application materials for World Liberty Financial show that the bank plans to issue a USD-backed stablecoin and hold digital assets related to its USD1 token in custody. U.S. President Donald Trump and his three sons are all associated with the company, and Trump family entities hold 38% of its equity. After approval, Senator Elizabeth Warren and nine other senators proposed (to terminate the Presidential Anti-Corruption in Banking Act). Elizabeth Warren said that the OCC’s move is one of the most obvious examples of favoritism and benefit transfer in the U.S. financial system. In January 2025, an Abu Dhabi investment firm supported by the UAE’s national security adviser, Sheikh Tahnoon bin Zayed Al Nahyan, purchased 49% of World Liberty for $500 million. Another UAE entity, MGX, previously used USD1 to invest $200 million in Binance. (Cointelegraph)