OCC Approves Trump-Linked World Liberty Bank for USD1 Stablecoin

• OCC clears World Liberty Trust’s path toward federally supervised USD1 operations nationwide.
• USD1 issuance and custody will move from BitGo after final regulatory approval arrives.
• Political scrutiny continues as lawmakers question Trump-linked bank charter approval.

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval for World Liberty Trust Company to organize a national trust bank. The proposed institution will issue the USD1 stablecoin and provide digital asset custody under federal supervision after meeting final regulatory requirements.

OCC Clears Path for World Liberty Trust Bank

The Office of the Comptroller of the Currency approved World Liberty Trust Company’s national trust bank application on August 14, conditionally. The decision advances World Liberty Financial’s plan to bring USD1 issuance and custody under direct federal oversight instead of relying on partners.

The proposed bank will operate from Bay Harbor Islands, Florida, after completing pre-opening conditions required before final authorization is granted. Unlike traditional commercial banks, the trust institution cannot accept customer deposits or provide conventional lending services under its proposed structure.

Instead, it will focus on stablecoin issuance, reserve management, digital asset custody, and settlement services for institutional customers across the country. World Liberty Financial submitted the charter application in January as cryptocurrency companies increasingly pursued federal trust bank licenses for nationwide operations.

Currently, BitGo manages USD1 issuance and custody, although World Liberty intends to assume those responsibilities after receiving full regulatory approval. 

World Liberty Trust CEO Zach Witkoff, in a post on X, described the approval as a significant milestone for the company’s stablecoin ambitions under federal supervision.

He stated that combining issuance, custody, and reserve management within one regulated institution would strengthen oversight and long-term accountability for USD1. The OCC also required the company to maintain at least $20 million in capital before opening and appoint qualified audit leadership.

Today, @worldlibertyfi received conditional approval from the OCC to organize World Liberty Trust Company, N.A., a national trust bank designed from the ground up to issue $USD1 and provide custody under federal supervision.

Rigorous oversight, institutional controls and clear…

— Zach Witkoff (@ZachWitkoff) August 14, 2026

USD1 Expansion Faces Continued Political Scrutiny

The regulator emphasized that approval remains conditional until World Liberty satisfies operational, governance, and compliance requirements before launching nationwide services officially. The OCC said career staff reviewed the application under established legal standards and rejected objections as sufficient grounds for denial.

The agency also addressed concerns regarding foreign investors, stating they would not control the proposed bank’s operations or governance decisions. Several investors signed passivity agreements, including Eric Trump through a Trump family-affiliated investment vehicle connected with the broader business.

Democratic lawmakers continue questioning whether the charter creates conflicts because President Donald Trump appointed Comptroller Jonathan Gould before approval occurred. The OCC responded that Gould and agency staff fulfilled their statutory duties while nonpolitical examiners would oversee ongoing supervision afterward.

World Liberty Financial, launched with involvement from the Trump family and the Witkoff family, has promoted USD1 as a dollar-backed stablecoin. Since launching in March 2025, USD1 has grown to roughly $4 billion in market capitalization, making it among the largest stablecoins.

The approval places World Liberty alongside Ripple, Circle, and other cryptocurrency firms seeking federal trust bank structures for institutional digital asset services.