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      World Liberty Financial Receives Preliminary Approval for National Bank Trust Charter

      The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for World Liberty Trust Company, National Association, to establish itself as a national trust bank. This decision, made on August 14, marks a significant milestone for the Trump family-affiliated crypto venture, allowing it to operate under federal oversight, a status that many digital asset companies aspire to achieve.

      The approval follows a 221-day review process that began with World Liberty Financial's application in January 2026. If finalized, the charter will enable World Liberty Trust to directly issue, redeem, and custody its USD1 stablecoin, enhancing its operational framework compared to its current management by BitGo, a prominent crypto custodian. However, the charter does not permit the bank to accept insured deposits or issue loans.

      World Liberty Trust's USD1 stablecoin, launched in March 2025, is backed by cash, US Treasuries, and money-market funds, and operates across multiple blockchains, including Ethereum, Solana, and Tron. The trust is led by CEO and chairman Zach Witkoff, who co-founded World Liberty Financial with Eric Trump and Donald Trump Jr. The Trump family's 38% ownership stake in the company has sparked discussions in the Senate regarding the Digital Asset Market Clarity Act, or CLARITY Act, which aims to regulate potential conflicts of interest involving public officials and their family members in crypto ventures.

      The OCC's approval reflects a growing trend of fintech and digital asset companies seeking national trust charters. A stablecoin under OCC supervision presents a different risk profile for institutional investors compared to those managed by private custodians, as it involves regular examinations and compliance with federal regulations. The approval remains conditional, pending the fulfillment of specific requirements set by the OCC before it becomes final.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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