World Liberty Gets Conditional OCC Approval to Issue USD1 Through National Trust Bank

World Liberty Financial (CRYPTO: $WLFI) has moved closer to bringing its USD1 (CRYPTO: $USD1) stablecoin under a federally supervised banking structure after the Office of the Comptroller of the Currency conditionally approved a national trust bank charter for World Liberty Trust Company.

The approval would allow the Trump family-backed crypto company to issue USD1 directly and custody the U.S. dollar assets backing the stablecoin. Those functions are currently handled through BitGo (NASDAQ: $BTGO).

Unlike a traditional commercial bank charter, the national trust structure generally does not permit deposit-taking or lending. It would instead give World Liberty a single federal framework for custody, asset servicing and settlement, areas the company has said are central to its plans for institutional clients such as exchanges and investment firms.

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