World Liberty Financial Wins Preliminary OCC Nod for U.S. National Trust Bank Charter
AI Market Summary
Bloomberg reports World Liberty Financial received preliminary conditional OCC approval for a U.S. national trust bank charter, enabling potential direct issuance/redemption of the USD1 stablecoin, reserve management, and digital-asset custody upon final approval. While not a deposit-taking bank, the move signals a more permissive U.S. charter environment for fintech and crypto firms, supporting sector legitimacy and institutional on-ramps in the near term.
Impact level
● Medium
Affected assets
BTC/USDT+1.09%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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World Liberty Financial, a cryptocurrency project backed by the Trump family, has secured preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, Bloomberg reported on Aug. 24, according to ChainThink. The charter would allow the group to set up World Liberty Trust Company.
If the OCC grants final approval, the trust bank would be able to issue and redeem the USD1 stablecoin directly, manage its reserve assets, and offer digital asset custody services.
OCC data indicate a sharp pickup in U.S. charter approvals. In the first 19 months of Trump's second term, regulators approved 22 bank charter applications, surpassing the combined total from the prior five years, with several approvals going to fintech and digital asset firms.
World Liberty Trust Company would operate as a national trust bank rather than a traditional commercial bank. It would not be permitted to take FDIC-insured deposits or originate conventional loans.
