OCC approves Trump family crypto company for trust charter
The US financial regulator gave conditional approval for World Liberty Financial’s charter bid as ten Democrats signed onto a bill to “prevent corruption in banking applications.“
The US Office of the Comptroller of the Currency (OCC) has conditionally approved World Liberty Financial's bid for a national trust bank charter, despite concerns about potential conflicts of interest involving the company's ties to the Trump family. The approval, which allows the company to be known as World Liberty Trust Company, National Association, is subject to certain regulatory and policy requirements.
The company plans to issue dollar-backed stablecoins and custodian digital assets related to its USD1 token. President Donald Trump and his three sons are affiliated with the company, with the OCC's head, Jonathan Gould, nominated by Trump in 2025. World Liberty's website states that the Trump family entity holds 38% of the company's equity interests.
The OCC stated that the approval was made in an "apolitical and nonpartisan process," following a letter from Senator Elizabeth Warren, who introduced legislation to prevent corruption in banking applications.
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