The Office of the Comptroller of the Currency (OCC) has given World Liberty Financial, a DeFi venture associated with President Donald Trump, preliminary conditional approval to charter a national trust bank built around its roughly $4 billion USD1 stablecoin.
World Liberty Trust Company would eventually handle USD1 issuance and reserve custody directly, bringing both functions under federal supervision if the bank clears the conditions that remain between preliminary and final approval.
Zach Witkoff, co-founder and CEO of World Liberty Financial, said: "Rigorous oversight, institutional controls and clear accountability are how stablecoins become trusted financial infrastructure. Our ambition is clear: to build the trust framework the industry needs."
