Trump’s Crypto Firm One Step Away From Federal Bank Charter as Democrats Push Back

TLDR

• The OCC granted World Liberty Trust Company preliminary conditional approval for a federal bank charter on Friday
• World Liberty plans to take over USD1 stablecoin issuance from BitGo Bank and Trust
• USD1 has a market cap of $4 billion, ranking it the fourth-largest stablecoin
• Democratic senators, led by Elizabeth Warren, plan to introduce legislation blocking senior officials from owning or controlling a bank
• Other crypto firms including Coinbase, Paxos, BitGo, Ripple, and Circle have also received conditional approvals from the OCC

World Liberty Financial, the crypto firm backed by President Donald Trump, has received conditional approval from a federal regulator to operate as a national trust bank.

JUST IN: 🇺🇸 Trump family crypto company World Liberty Financial receives approval to become a federally chartered bank.

- Watcher.Guru (@WatcherGuru) August 14, 2026

The Office of the Comptroller of the Currency issued the preliminary approval in a letter published on Friday. The approval allows World Liberty Trust Company to offer fiduciary and trust company services tied to its USD1 stablecoin.

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