Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin
The proposed World Liberty Trust Company would take over issuance of the USD1 stablecoin from BitGo.
World Liberty Financial has received conditional approval from the Office of the Comptroller of the Currency (OCC) to issue its USD1 stablecoin directly through a national trust bank charter. This new structure would allow the company to custody the U.S. dollar assets backing the stablecoin, a task currently performed by BitGo. Unlike a traditional banking charter, the national trust structure does not permit deposit-taking or lending.
The approval comes with several conditions, including maintaining a minimum capital of $20 million and appointing a qualified internal audit manager. World Liberty Trust Company spokesperson, David Wachsman, stated that the structure would bring robust federal oversight, including regular examinations, placing World Liberty's stablecoin business within the federal banking supervisory system.
The USD1 stablecoin, launched in 2025, has grown rapidly, with a market capitalization of approximately $4 billion, making it the fourth-largest stablecoin. The application for federal approval has drawn political scrutiny due to World Liberty's ties to President Donald Trump and his family. Despite this, the OCC stated that career staff handled the review, ensuring that Comptroller Jonathan Gould and agency employees acted consistently with their statutory and ethical obligations. Currently, World Liberty Financial is trading at $0.056 U.S. per digital token.
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