World Liberty Financial has received preliminary approval from the Office of the Comptroller of the Currency to launch a federally chartered trust bank.
According to the announcement made by the Wall Street Journal, the decision moves the firm closer to formal integration with the US regulated banking system, though final approval remains subject to additional conditions and an OCC examination.
Stablecoin custody and regulatory conditions
Once fully approved, World Liberty Trust will operate as a federally chartered national trust bank, a status that permits it to issue, redeem, and safeguard USD1, the dollar-backed stablecoin the company launched in 2025. USD1 currently holds a market value of approximately USD 4 billion, with its reserves held in custody by BitGo. Unlike full commercial banks, trust banks are not permitted to accept deposits or extend loans, but the charter would give World Liberty broader access to the traditional financial system for custody and settlement functions.
The OCC, under the leadership of Comptroller Jonathan Gould, has approved several crypto-focused trust bank applications in recent months, a trend that reflects a broader regulatory shift toward accommodating digital asset firms within federally supervised structures. World Liberty submitted its trust company application in January 2026, outlining plans to provide crypto custody and stablecoin conversion services to institutional clients, including exchanges, market makers, and investment firms.
The approval arrives against the backdrop of stalled legislative efforts around digital asset regulation. The Clarity Act, a proposed framework intended to establish comprehensive rules for the sector, has faced delays linked to disagreements over provisions that would restrict government officials from profiting off digital assets. A procedural vote on the bill is scheduled for 15 September 2026.
Ownership structure and industry reaction
President Trump and his two sons co-founded World Liberty Financial in late 2024 as a decentralised finance project intended to offer lending, borrowing, and trading services. While those core DeFi functions have not yet launched, the company has since introduced borrowing and lending capabilities through a partnership with the Dolomite protocol.
According to the source report, the Trump family's crypto holdings generated significant income in 2025, including more than USD 500 million from sales of World Liberty's WLFI token and an additional USD 263 million connected to an equity sale to a group of investors led by a United Arab Emirates royal.
The plan has drawn criticism from lawmakers concerned about potential conflicts of interest given the family's financial ties to the venture. A US senator described the scale of the financial arrangements as unprecedented for a sitting administration. The White House has stated that neither the president nor his family has engaged, or will engage, in conflicts of interest.
A World Liberty Financial representative said the trust company's application underwent extensive regulatory review and that the firm accepted the compliance obligations associated with a national charter.
