Trump-Backed World Liberty Gets Conditional OCC Approval for National Trust Bank to Hold USD1 Reserves

World Liberty Financial has moved closer to bringing the reserve assets for its USD1 stablecoin under a federally chartered banking structure after securing conditional approval for a national trust bank, Bloomberg reported.

The U.S. Office of the Comptroller of the Currency granted the preliminary clearance, but final authorization remains subject to World Liberty satisfying requirements covering capital, governance, and audits.

The application is advancing during a broader increase in U.S. bank charter approvals. The OCC cleared 22 applications in the first 19 months of President Donald Trump’s second term, more than the agency approved during the preceding five years combined, according to Bloomberg.

Source: Bloomberg