OCC grants conditional approval for Trump-backed World Liberty National Trust bank
President Donald Trump-backed World Liberty Financial secured preliminary approval to become a national trust bank on Friday.
World Liberty Financial, a cryptocurrency project backed by the Trump family, has delayed plans to sell a token associated with a resort in the Maldives, according to Bloomberg. The token, which was originally scheduled to go on sale next year, would have given investors a share of revenue from loans financing the development of the Trump-branded resort.
However, the delay is attributed to the ongoing Iran war, which has disrupted travel in the region, according to people familiar with the matter. The token was being developed with the help of a real-world asset (RWAs) platform called Securitize in February. It remains unclear when the token will now be listed. This project is part of World Liberty Financial's broader plans to tokenize real estate and commodities like oil and gas.
A spokesperson for the company declined to comment on the delay, and CoinDesk was unable to obtain additional information.
Written by urgent.news from CoinDesk's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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