Trump-backed World Liberty wins conditional bank charter from federal regulator
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Summary
The U.S. Office of the Comptroller of the Currency (OCC) has granted World Liberty Trust Company a conditional federal bank charter. This approval allows World Liberty Trust to take over issuance of World Liberty Financial’s USD1 stablecoin. The decision comes despite opposition from Democratic lawmakers who raised concerns about World Liberty’s ties to former President Donald Trump.
Why it matters
This development is significant because it enables World Liberty Trust Company to provide fiduciary and trust services related to the USD1 stablecoin on a nationwide scale, taking over roles previously held by BitGo Bank & Trust. The granting of the charter reflects regulatory approval of a Trump-backed stablecoin issuer, amid political scrutiny and concerns about the qualifications and regulatory compliance of crypto banks.
Key context
World Liberty applied for the charter in January 2026, amid concerns from politicians including Senator Elizabeth Warren, who criticized the OCC for approving crypto banks without sufficient safeguards. World Liberty Financial’s connections to Donald Trump and an investment by an Abu Dhabi firm led to public scrutiny. The OCC conducted a thorough review, concluding that the company meets legal and regulatory requirements for a national trust bank charter.
Key numbers and entities
The key entities involved are the Office of the Comptroller of the Currency (OCC), World Liberty Trust Company, World Liberty Financial, and BitGo Bank & Trust. Senator Elizabeth Warren and Comptroller of the Currency Jonathan Gould are named individuals connected to the regulatory and political discourse. The stablecoin in question is named USD1.
What remains unclear
The OCC’s approval is conditional and final approval is pending additional “preopening requirements” that World Liberty must meet. The company does not intend to become a federally insured depository institution or obtain a Federal Reserve master account, but details on how these limitations will impact operations are not clarified. The source does not flag other open questions.