World Liberty Financial receives preliminary approval for national bank trust charter
The Office of the Comptroller of the Currency has granted preliminary conditional approval for World Liberty Trust Company, National Association, to organize as a national trust bank. The decision, issued on August 14, gives the Trump family-linked crypto venture a federal regulatory stamp that most digital asset companies can only dream about.
It also lands squarely in the middle of a Senate fight over the CLARITY Act, legislation designed to regulate crypto-related profits for government officials and their affiliates.
What the charter actually allows
The approval caps a 221-day review process that began when World Liberty Financial submitted its application in January 2026. If finalized, the charter would let World Liberty Trust directly issue, redeem, and custody its USD1 stablecoin under federal oversight.
That’s a meaningful upgrade from the current setup. USD1 is presently managed by BitGo, the well-known crypto custodian. Moving it under OCC supervision would place reserve management activities directly under a federal regulator’s watch.
There are clear limits to what the charter permits, though. World Liberty Trust would not be authorized to accept insured deposits or make loans.
The USD1 stablecoin itself launched in March 2025, backed by cash, US Treasuries, and money-market funds. It operates across multiple blockchains including Ethereum, Solana, and Tron. The stablecoin sits alongside WLF’s WLFI governance token, which lets holders participate in protocol decisions across the platform.
Zach Witkoff serves as CEO and chairman of the trust bank. He co-founded World Liberty Financial alongside Eric Trump and Donald Trump Jr., who helped establish the DeFi protocol and governance platform back in 2024.
The 38% problem
An entity affiliated with the Trump family holds a 38% ownership stake in World Liberty Financial. The Senate is actively debating the Digital Asset Market Clarity Act, known as the CLARITY Act, which specifically aims to address conflicts of interest when public officials or their family members profit from crypto ventures.
Opponents of the CLARITY Act can point to the OCC’s rigorous review process as evidence that existing regulatory frameworks are sufficient. Supporters can argue the opposite: that the approval itself demonstrates why new guardrails are necessary.
A broader pattern in fintech chartering
The OCC has seen an uptick in approvals for fintech and digital asset companies seeking national trust charters in 2026.
For institutional investors, a stablecoin operated under OCC supervision carries a different risk profile than one managed by a private custodian, even a reputable one like BitGo. Federal oversight of reserve management means regular examinations, capital requirements, and a regulatory framework that pension funds and asset managers are already comfortable navigating.
What to watch next
The approval is preliminary and conditional. World Liberty Trust still needs to satisfy whatever requirements the OCC attached before the charter becomes final. Those conditions have not been publicly detailed, but they typically involve demonstrating adequate capitalization, governance structures, and compliance frameworks.
USD1 would operate with a level of regulatory backing that rivals like USDC and USDT don’t currently possess, despite Circle’s own banking relationships and Tether’s various compliance efforts. A federally chartered trust bank issuing a stablecoin is a first-of-its-kind structure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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