Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin

August 14, 2026

The OCC granted preliminary conditional approval for World Liberty Trust Company, National Association, in Bay Harbor Islands, Florida.

The trust bank plans to issue and redeem USD1, taking over from BitGo as exclusive issuer and custodian. Conditions include $20 million minimum capital and compliance with the GENIUS Act.

Co-founder Zachary Witkoff is listed as organizer, director, and president. Sen. Elizabeth Warren called the arrangement illegal self-dealing. OCC dismissed conflict-of-interest comments as outside its statutory scope.