The US Office of the Comptroller of the Currency has granted conditional preliminary approval for a national trust charter to World Liberty Trust Company, a crypto firm linked to the Trump family. This step allows the company to move toward in-house management of its $4 billion USD1 stablecoin. However, the firm must meet strict capital and audit conditions before receiving final authorization.
The US Office of the Comptroller of the Currency (OCC) issued a conditional preliminary approval on August 14, 2026, for a national trust charter to World Liberty Trust Company. This entity is a crypto venture associated with the family of former President Donald Trump. While the approval is a significant milestone for the firm’s stablecoin operations, it is not a full banking license and comes with specific operational limitations.
This conditional charter allows World Liberty Trust to provide custody services for its digital assets and facilitate payment settlements. Importantly, as a national trust bank, the firm is prohibited from engaging in traditional banking activities such as taking deposits or providing loans. The primary strategic goal for the company is to bring the issuance and reserve management of its USD1 stablecoin in-house. Currently, these functions are managed by a third-party partner, BitGo.
To secure the final authorization, the company must satisfy several rigorous regulatory requirements set by the OCC. These include maintaining a minimum of $20 million in Tier 1 capital, establishing robust internal audit systems, and hiring a dedicated internal audit manager. The firm has an 18-month window to comply with these pre-opening conditions before the charter can be finalized.
The venture has attracted significant attention due to its high-profile connections and the rapid growth of the USD1 stablecoin, which has reached a market capitalization of approximately $4 billion since its introduction in 2025. By moving to a federal trust structure, the company aims to operate under a unified regulatory framework, which it believes will help attract institutional clients and provide better oversight of its dollar-backed reserves.
Despite the regulatory nod, the project faces ongoing scrutiny. Critics and some political figures have raised concerns regarding potential conflicts of interest given the Trump family's ownership stake and involvement. The company has also navigated questions from lawmakers regarding its security and governance structures. Furthermore, the firm’s ecosystem includes the WLFI governance token, which has experienced notable price volatility and is currently trading well below its previous highs. This volatility remains a point of interest for market observers, as the token has previously been utilized for stablecoin borrowing collateral, a practice that has raised questions about systemic risk.
Investors and market participants should track the firm’s progress in meeting the $20 million capital requirement and the appointment of key audit personnel. The eventual transition away from third-party custodians like BitGo and the successful completion of pre-opening regulatory examinations will be the next major indicators of the company’s operational maturity.