• Home
  • NFT
  • Metaverse
  • Cryptocurrency
No Result
View All Result
  • Home
  • NFT
  • Metaverse
  • Cryptocurrency
No Result
View All Result
No Result
View All Result
Home NFT

Trump Family Crypto Company World Liberty Financial Receives Conditional Bank Approval

admin by admin
August 16, 2026
in NFT
0 0
0
Trump Family Crypto Company World Liberty Financial Receives Conditional Bank Approval
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


World Liberty Financial, the cryptocurrency company backed in part by President Donald Trump and members of his family, has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a federally chartered national trust bank.

The decision marks a major step for the Trump family’s expanding crypto business and could give World Liberty greater control over the infrastructure supporting its USD1 stablecoin. However, the approval is preliminary. The company must meet additional regulatory requirements and pass a final examination before the bank can begin operations.

The OCC granted conditional approval Friday to World Liberty Trust Company, a trust bank sponsored by World Liberty Financial. The approval requires the company to complete several steps, including raising capital and establishing required governance and internal controls.

Trump family crypto company World Liberty Financial receives approval to become a federally chartered bank

Trump family crypto company World Liberty Financial receives approval to become a federally chartered bank

A New Home for USD1

The proposed bank would not operate like a conventional commercial bank. National trust banks generally cannot accept deposits or make loans. Instead, they can provide services such as asset custody, payment settlement and other financial services under federal supervision.

For World Liberty, the most important benefit is the potential to bring its USD1 stablecoin operations in-house.

USD1 is a dollar-backed stablecoin designed to maintain a one-to-one value with the U.S. dollar, with reserves backed by assets including U.S. Treasury. Since launching in March 2025, the stablecoin has grown rapidly and now has a market capitalization of roughly $4 billion.

World Liberty currently relies on third-party provider BitGo for some stablecoin services. A national trust bank would allow World Liberty Trust to directly issue and redeem USD1 and custody the assets backing the token. That could give the company greater control over its stablecoin infrastructure while creating additional opportunities to generate revenue.

USD1 Price Performance (Source: CoinMarketCap)

USD1 Price Performance (Source: CoinMarketCap)

Regulatory Conditions Remain

Despite the preliminary approval, World Liberty Trust is not yet a fully operational bank. The OCC requires the company to maintain at least $20 million in capital, appoint a qualified internal audit manager and notify regulators about major changes to its business plan.

The bank would also remain subject to ongoing federal supervision and examination.

Zach Witkoff, president and chairman of World Liberty Trust, welcomed the decision, describing the charter as a milestone for the company. He said the structure would bring USD1 issuance, custody and reserve management under OCC supervision and emphasized World Liberty’s willingness to accept continued regulatory scrutiny.

The OCC also addressed concerns about non-U.S. investors in World Liberty Financial. According to its approval letter, several investors signed “passivity agreements” promising not to seek control or influence over the bank’s operations. Eric Trump was among those who signed such an agreement through a Trump-family-affiliated investment vehicle.

Political Concerns Intensify

The approval is likely to renew criticism from Democrats, who have raised concerns about potential conflicts of interest involving President Trump, his administration and his family’s crypto businesses.

World Liberty Financial says 38% of the company is owned by an entity affiliated with Donald Trump and certain family members. Trump and his sons, Donald Trump Jr. and Eric Trump, helped launch the venture in 2024.

Senator Elizabeth Warren previously urged the OCC to reject the application unless Trump divested his interests in World Liberty. Following the approval, Warren called it an unprecedented conflict of interest and said she and other lawmakers would introduce legislation aimed at preventing presidents and senior government officials from owning or controlling banks.

World Liberty has defended the application process. Witkoff said the company’s submission underwent extensive review and that accepting federal supervision demonstrated its willingness to operate under regulatory oversight.

The OCC said the application was reviewed by career staff and that the future bank would be supervised by nonpolitical examiners.

Part of a Wider Crypto Banking Push

World Liberty’s approval comes as more cryptocurrency companies seek direct access to the U.S. banking system.

The OCC has received 40 bank charter applications since 2025, a sharp increase from the previous administration, with many tied to crypto projects. Other major digital-asset companies, including Ripple and Circle, have also received preliminary approval for national trust bank charters.

For crypto firms, these charters can provide a federal framework for custody, settlement and other financial services across the country. They can also make it easier to work with institutional customers that require regulated infrastructure.

For World Liberty, the opportunity is particularly significant because of USD1’s growth. Bringing issuance, custody and reserve management under one federally supervised entity could strengthen the stablecoin’s infrastructure and reduce the company’s reliance on outside providers.

A Significant Step, Not the Finish Line

The OCC’s decision gives World Liberty Financial an important regulatory foothold, but it does not complete the bank chartering process.

The company must satisfy the remaining conditions, maintain the required capital and pass a final examination before World Liberty Trust can begin operating.

If it clears those hurdles, the Trump-linked venture would join a growing group of crypto companies moving deeper into regulated financial services.

The development also places World Liberty at the center of a broader debate over stablecoins, crypto regulation and the relationship between political power and private digital-asset businesses. For the company, however, the immediate objective is clear: turn preliminary approval into a fully operational national trust bank and bring one of its fastest-growing crypto products, USD1, under direct federal supervision.



Source link

Previous Post

SEC Cancels Open Meeting, Delaying Long-Awaited Regulation Crypto Proposal

Next Post

Trump to Host Major White House Crypto Meeting as U.S. Regulatory Push Enters Critical Phase

admin

admin

Next Post
Trump to Host Major White House Crypto Meeting as U.S. Regulatory Push Enters Critical Phase

Trump to Host Major White House Crypto Meeting as U.S. Regulatory Push Enters Critical Phase

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
All About The Game, NFT Price, and New Mints

All About The Game, NFT Price, and New Mints

July 2, 2023
21Shares present ” Crypto Winter Suite.”

21Shares present ” Crypto Winter Suite.”

June 29, 2022
15 Best No KYC Crypto Exchanges for 2025

15 Best No KYC Crypto Exchanges for 2025

December 12, 2025
Toobit Referral Code 2026: “loWEqK”(15,000 USDT Welcome Bonus)

Toobit Referral Code 2026: “loWEqK”(15,000 USDT Welcome Bonus)

January 12, 2026
Reshaping & Innovating the Music Industry Through NFTs

Reshaping & Innovating the Music Industry Through NFTs

0
Fixing Broken Gamenomics: How to End Infinite Selling Pressure in P2E Gaming Economies

Fixing Broken Gamenomics: How to End Infinite Selling Pressure in P2E Gaming Economies

0
CryptoArt Sundays: Interview with Bushra Khan

CryptoArt Sundays: Interview with Bushra Khan

0
Big Time Readies Early Access for Gold VIP Pass Holders

Big Time Readies Early Access for Gold VIP Pass Holders

0
Ripple’s RLUSD Targets $13 Trillion Corporate Treasury Market

Ripple’s RLUSD Targets $13 Trillion Corporate Treasury Market

September 16, 2026
Senate Republicans Release ‘Final’ Clarity Act Draft as Trump Accepts Most Ethics Provisions

Senate Republicans Release ‘Final’ Clarity Act Draft as Trump Accepts Most Ethics Provisions

September 15, 2026
Bitcoin vs Zcash: Grayscale Reveals Which Is More Profitable to Mine

Bitcoin vs Zcash: Grayscale Reveals Which Is More Profitable to Mine

September 14, 2026
Coinbase Has a Backup Plan if the Crypto CLARITY Act Fails in Congress

Coinbase Has a Backup Plan if the Crypto CLARITY Act Fails in Congress

September 13, 2026

Recommended

Ripple’s RLUSD Targets $13 Trillion Corporate Treasury Market

Ripple’s RLUSD Targets $13 Trillion Corporate Treasury Market

September 16, 2026
Senate Republicans Release ‘Final’ Clarity Act Draft as Trump Accepts Most Ethics Provisions

Senate Republicans Release ‘Final’ Clarity Act Draft as Trump Accepts Most Ethics Provisions

September 15, 2026
Bitcoin vs Zcash: Grayscale Reveals Which Is More Profitable to Mine

Bitcoin vs Zcash: Grayscale Reveals Which Is More Profitable to Mine

September 14, 2026
Coinbase Has a Backup Plan if the Crypto CLARITY Act Fails in Congress

Coinbase Has a Backup Plan if the Crypto CLARITY Act Fails in Congress

September 13, 2026

About Us

We bring you the latest NFT News and update from all around the Internet!

Categories

  • Cryptocurrency
  • Metaverse
  • NFT
No Result
View All Result
  • Home
  • NFT
  • Metaverse
  • Cryptocurrency

© 2026 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist