OCC Grants Trump Family Crypto Firm Conditional Bank Charter

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The Office of the Comptroller of the Currency on Friday granted preliminary conditional approval for World Liberty Trust Company, a proposed national trust bank linked to President Donald Trump’s family cryptocurrency venture. The approval allows the proposed institution, after satisfying remaining conditions and passing the examination, to pursue USD1 stablecoin issuance and redemption, reserve management, digital-asset custody and conversion services. The OCC requires at least $20 million in Tier 1 capital, liquid-asset protections, independent auditing and internal controls. The institution would not be a conventional deposit-taking bank and would not make ordinary loans. The OCC’s decision also addresses foreign-investment and conflict-of-interest concerns raised during the application process, saying applicable requirements were followed. World Liberty plans to acquire USD1 reserve assets and associated liabilities from BitGo. USD1’s market capitalization is roughly $4 billion, according to Reuters and coverage. The charter remains conditional, so operations cannot begin until OCC requirements are satisfied.

Prepared by Christopher Adams and reviewed by editorial team.

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Left: Coverage emphasizes presidential conflicts, foreign ownership, oversight, and potential self-dealing concerns. Center: Coverage emphasizes conditional approval, regulatory requirements, stablecoin operations, and remaining authorization steps. Right: Coverage emphasizes crypto legitimacy, regulatory clarity, innovation, and expanding American financial competitiveness.