Trump-Backed Crypto Venture Gets Conditional US Bank Charter Approval

US President Donald Trump and his family have expanded their involvement in the cryptocurrency sector through World Liberty Financial, a venture focused on digital assets and Stablecoins. The company has now moved closer to establishing a regulated banking arm in the US.

The Office of the Comptroller of the Currency (OCC) has conditionally approved World Liberty Trust Company’s application for a national trust charter. The application was submitted in January 2026.

According to a report by Reuters, the conditional approval could allow World Liberty Trust to manage and hold assets for customers and provide payment settlement services if the charter receives final approval. However, the trust bank would generally not be permitted to accept deposits or provide loans like a traditional bank.

World Liberty’s USD1 Stablecoin Gets Banking Push

The approval has a direct connection to World Liberty Financial’s crypto business. If the charter receives final approval, the company would be able to directly issue its USD1 Stablecoin and hold dollar assets backing the token. These functions are currently handled by BitGo, a business partner.

The development could give World Liberty greater control over key parts of its Stablecoin operations while bringing those activities under a federally regulated trust bank structure.

Crypto Firms Seek US Trust Bank Charters

The move comes as cryptocurrency companies seek national trust charters to provide custody, settlement and other financial services under a single federal framework. Other crypto firms, including Ripple and Circle, have also received preliminary approval for similar charters under Comptroller Jonathan Gould, who was appointed by Trump.

World Liberty Financial welcomed the conditional approval and described it as a milestone in its efforts to establish the bank. The approval remains preliminary, meaning the company must meet the OCC’s conditions before receiving final approval.

World Liberty Financial was launched in 2024 as a Trump family-backed cryptocurrency venture. The cryptocurrency venture later launched its USD1 Stablecoin as part of its digital asset operations. According to Trump’s 2025 financial disclosure, his companies received almost $800 million from the venture.