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, allowing the company to subsequently operate under the name World Liberty Trust Company, National Association. The application documents show that the bank plans to issue a U.S.-dollar-backed stablecoin and will custody digital assets related to its USD1 tokens.
An entity in the Trump family holds a 38% equity stake in the company. The approval has sparked regulatory controversy.
Senator Elizabeth Warren and nine other senators introduced the “End the Presidential Banking Corruption Act,” describing the OCC’s decision as one of the forms of favoritism in the U.S. financial system. In January 2025, an Abu Dhabi investment firm purchased a 49% stake in World Liberty for $500 million;
Another Emirati entity, MGX, previously used USD1 to invest $2 billion in Binance. This article is for informational purposes only and does not constitute investment advice.
#OCC #WorldLibertyFinancial #stablecoin
An entity in the Trump family holds a 38% equity stake in the company. The approval has sparked regulatory controversy.
Senator Elizabeth Warren and nine other senators introduced the “End the Presidential Banking Corruption Act,” describing the OCC’s decision as one of the forms of favoritism in the U.S. financial system. In January 2025, an Abu Dhabi investment firm purchased a 49% stake in World Liberty for $500 million;
Another Emirati entity, MGX, previously used USD1 to invest $2 billion in Binance. This article is for informational purposes only and does not constitute investment advice.
#OCC #WorldLibertyFinancial #stablecoin