Trump-backed World Liberty wins conditional bank charter from federal regulator

August 14, 2026

The OCC granted preliminary conditional approval to World Liberty Trust Co. to operate as a national trust bank.

The bank plans to issue USD1 stablecoin to institutional clients nationwide, assuming issuance from BitGo Bank & Trust. It will provide digital asset custody as a fiduciary primarily to USD1 customers.

World Liberty applied in January 2026, drawing opposition from Democratic lawmakers over Trump family ownership. Final approval requires meeting pre-opening requirements; the bank does not intend to become an insured depository or seek a Fed master account.