Trump’s Crypto Bank Is Coming: World Liberty Gets Conditional OCC Approval for USD1

Donald Trump’s family-backed World Liberty Financial has moved one step closer to opening Trump’s crypto bank. The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for World Liberty Trust Company to become a federally chartered national trust bank focused heavily on the USD1▲$0.9989 stablecoin.

The decision could substantially change World Liberty Financial’s position in the crypto industry. Instead of relying on outside companies to issue USD1 and safeguard its reserves, the group wants to bring stablecoin issuance, reserve management, and digital asset custody under its own federally supervised institution.

There is one important catch: the bank is not open yet. World Liberty Trust must satisfy several regulatory requirements before receiving final authorization to begin operations.

Related: CLARITY Act Faces Five Major Loophole Claims as Trump’s $14B Crypto Profits Fuel Scrutiny

What Did the OCC Approve for Trump’s Crypto Bank?

On August 14, the OCC conditionally approved World Liberty Trust Company’s application for a national trust bank charter.

If final approval follows, Trump’s crypto bank would operate from Bay Harbor Islands, Florida, as a subsidiary of WLTC Holdings. Its proposed activities center on three areas: