The Office of the Comptroller of the Currency has granted World Liberty Financial preliminary conditional approval to charter a national trust bank that would issue and redeem its USD1 stablecoin and hold the reserves backing it.

Once open, World Liberty Trust Company would run under federal supervision, custody digital assets for institutional clients, and manage the reserve behind USD1, a dollar-backed stablecoin that now has more than $4B in circulation. The firm is closely tied to the Trump family: an affiliate of the president and family members hold a reported 38% stake. The charter also lands amid a wider opening of the bank pipeline, with the OCC approving more new charters in the first 19 months of this term than in the prior five years combined.

The approval is preliminary. Before it can begin operations, the company must hold at least $20M in capital, hire a qualified internal audit manager, notify the OCC of any material changes to its business plan, and clear the remaining pre-opening conditions.

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