OCC Approves Trump-Linked World Liberty Bank for USD1 Stablecoin
- OCC clears World Liberty Trust’s path toward federally supervised USD1 operations nationwide.
- USD1 issuance and custody will move from BitGo after final regulatory approval arrives.
- Political scrutiny continues as lawmakers question Trump-linked bank charter approval.
The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval for World Liberty Trust Company to organize a national trust bank. The proposed institution will issue the USD1 stablecoin and provide digital asset custody under federal supervision after meeting final regulatory requirements.
OCC Clears Path for World Liberty Trust Bank
The Office of the Comptroller of the Currency approved World Liberty Trust Company’s national trust bank application on August 14, conditionally. The decision advances World Liberty Financial’s plan to bring USD1 issuance and custody under direct federal oversight instead of relying on partners.
The proposed bank will operate from Bay Harbor Islands, Florida, after completing pre-opening conditions required before final authorization is granted. Unlike traditional commercial banks, the trust institution cannot accept customer deposits or provide conventional lending services under its proposed structure.
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