Trump-Linked World Liberty Financial Gets OCC Green Light

Key Takeaways

• World Liberty won conditional OCC approval Aug. 14 for its $4 billion USD1 operation.
• OCC requires World Liberty Trust to hold at least $20 million in tier 1 capital.
• World Liberty has 18 months to open its bank after clearing OCC requirements.

The Aug. 14 decision gives World Liberty Trust Company, National Association, a route to bring USD1 issuance, redemption, reserve management and digital asset custody in-house. The proposed bank would operate from Bay Harbor Islands, Florida, but no doors open until the OCC’s lengthy pre-opening checklist is cleared.

World Liberty Moves USD1 Closer to Home

World Liberty Financial arrived in late 2024 as a crypto and DeFi platform tied to the Trump and Witkoff families. An entity affiliated with President Donald Trump and certain family members owns a 38% stake. Zach Witkoff, the company’s CEO, is proposed as president and chairman of the new trust company.

Driving the expansion is USD1, a stablecoin built to hold a $1 value through reserves including cash and short-term U.S. Treasuries. Its market capitalization had climbed to roughly $4.036 billion by mid-August, placing USD1 among the bigger dollar-linked cryptocurrencies.

Bitgo Bank & Trust currently manages USD1 issuance and custody through an exclusive arrangement. If the bank wins final authorization, World Liberty intends to acquire USD1 reserve assets and associated liabilities from Bitgo, pulling more of the stablecoin’s plumbing directly under its own roof.