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      World Liberty Financial Receives Preliminary Approval for National Trust Bank Charter

      World Liberty Financial, a cryptocurrency project backed by the Trump family, has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This approval is a significant step towards establishing the World Liberty Trust Company, which aims to operate within the digital asset space.

      Once final approval is granted, the World Liberty Trust Company will have the authority to issue and redeem the stablecoin USD1, manage its reserve assets, and provide custody services for digital assets. This move comes amid a notable increase in the approval rate for new bank charters in the United States, with 22 applications approved in the 19 months leading up to Trump's second term, surpassing the total from the previous five years.

      It is important to note that the World Liberty Trust Company will not function as a traditional commercial bank. It will not be able to accept deposits insured by the FDIC or issue conventional loans, distinguishing its operations from those of traditional banking institutions.

      © 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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