World Liberty Financial Secures Preliminary Approval for National Trust Bank Charter

The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for World Liberty Trust Company, National Association, to organize as a national trust bank. This decision, issued on August 14, marks a significant milestone for the Trump family-linked crypto venture, providing it with a federal regulatory framework that many digital asset companies aspire to achieve.

The approval concludes a 221-day review process that began when World Liberty Financial submitted its application in January 2026. If finalized, the charter will enable World Liberty Trust to directly issue, redeem, and custody its USD1 stablecoin under federal oversight, a notable upgrade from its current management by BitGo, a well-known crypto custodian.

However, the charter has limitations; World Liberty Trust will not be authorized to accept insured deposits or make loans. The USD1 stablecoin, launched in March 2025, is backed by cash, US Treasuries, and money-market funds, and operates across multiple blockchains, including Ethereum, Solana, and Tron. Alongside the stablecoin, WLF’s WLFI governance token allows holders to participate in protocol decisions.

Zach Witkoff serves as CEO and chairman of the trust bank, having co-founded World Liberty Financial with Eric Trump and Donald Trump Jr. The Trump family holds a 38% ownership stake in the company.

This development comes amid ongoing Senate discussions regarding the Digital Asset Market Clarity Act, known as the CLARITY Act, which aims to regulate conflicts of interest involving public officials and their family members in crypto ventures. The OCC's rigorous review process may bolster arguments for existing regulatory frameworks, while opponents of the CLARITY Act could leverage this approval to argue against the need for new regulations.

As the OCC has seen an increase in approvals for fintech and digital asset companies seeking national trust charters in 2026, the implications of a federally chartered trust bank issuing a stablecoin are significant. Such oversight provides a different risk profile for institutional investors compared to privately managed stablecoins.

Looking ahead, World Liberty Trust must meet certain conditions set by the OCC before the charter can be finalized. These typically include demonstrating adequate capitalization, governance structures, and compliance frameworks. If successful, USD1 would operate under a level of regulatory backing that rivals like USDC and USDT currently do not possess.