World Liberty Trust receives preliminary OCC approval to operate as a national trust bank and become exclusive custodian of World Liberty Financial's USD1 stablecoin.
DeFi & Yields ·
The US regulator has approved a bank charter for World Liberty Financial, a Trump-backed crypto company. The approval marks a significant regulatory milestone for the entity seeking to operate as a bank in the US financial system.
The Office of the Comptroller of the Currency granted conditional approval for World Liberty National Trust Bank, allowing the Trump-backed organization to enter traditional banking operations. The conditional nature of the approval indicates the charter comes with specific requirements or restrictions that the entity must satisfy.
Details on what those conditions entail and the timeline for the entity to achieve full operational status remain unclear. The regulatory pathway forward and how the approval will affect the company's crypto-related activities are not yet specified in available reports.