US Bank Regulator Grants Trump Linked World Liberty a Conditional Bank Charter

The US Office of the Comptroller of the Currency (OCC) said on Friday, August 14, 2026 (23 Mordad 1405), that it has granted World Liberty Trust Company, a venture tied to the Trump family, "preliminary conditional approval" to operate as a national trust bank. According to CoinDesk, the OCC's letter said World Liberty Trust will take over issuance of the dollar backed USD1 stablecoin from BitGo and provide digital asset custody services to institutional clients. Final approval is contingent on the company meeting additional preopening requirements.

World Liberty filed its charter application in January this year and faced opposition from Democratic lawmakers, including Senator Elizabeth Warren, over its ties to President Donald Trump, who appoints the regulators overseeing agencies such as the OCC. After the approval was announced, Warren and several other senators said they would introduce a bill to bar senior government officials from owning or controlling a bank.