OCC Grants Preliminary Approval for Trump-Linked World Liberty Trust Bank

The U.S. Office of the Comptroller of the Currency granted preliminary conditional approval on Friday, August 14, 2026, for World Liberty Trust Company to establish a national trust bank. The approval allows the entity, which is linked to President Donald Trump, to move forward with plans to issue and custody the USD1 stablecoin for institutional clients, marking a significant step in the integration of digital assets into the regulated banking system.

The OCC's decision, announced in a letter posted to its website, grants World Liberty Trust preliminary authorization to operate fiduciary and trust company activities. However, the approval is not final. The company must satisfy additional preopening requirements, including meeting specific conditions related to governance, capital, and compliance, before it can begin operations. The regulator emphasized that the approval was based on a thorough evaluation of the application and the representations made by the company's representatives.

World Liberty Trust Company plans to focus on services tied to World Liberty Financial's USD1 stablecoin. The bank intends to assume the role of exclusive issuer and custodian for USD1 from BitGo...