A federal financial regulator has conditionally approved an application for a bank charter by an entity connected to World Liberty Financial, a crypto firm partially owned by President Donald Trump's family.
The Office of the Comptroller of the Currency on Friday gave conditional approval to World Liberty Trust Co.'s application for a national trust bank, according to a letter posted on the OCC's website. The trust company is sponsored by World Liberty Financial, which says on its website it is 38% owned by "an entity affiliated with Donald J. Trump and certain of his family members."
The banking charter will enable World Liberty to issue stablecoins, a type of cryptocurrency that is backed by safe reserve assets such as U.S. Treasurys and is convertible one-to-one into U.S. dollars. World Liberty currently relies on a third party, BitGo, for some stablecoin services. Bringing those services in house could be lucrative.
The charter application process won't be fully complete until the company completes additional steps, including raising capital. The OCC under Trump has emphasized its support for new bank charter applications, which are reviewed in part by career staff. It has received 40 applications since 2025, a sharp increase compared with President Joe Biden's term, according to agency data. Many are tied to crypto projects.
