OCC Grants Conditional Charter to Trump-Linked World Liberty Trust Co. to Support USD1 Stablecoin

The Office of the Comptroller of the Currency (OCC) on Aug. 14 issued a conditional approval for World Liberty Trust Co., a limited-purpose national trust bank affiliated with World Liberty Financial (WLF), the crypto venture backed by Donald Trump Jr. and Eric Trump. The charter authorizes World Liberty Trust Co. to provide issuance, custody and redemption services for USD1, WLF's dollar-backed stablecoin project under development since the venture's 2024 launch. The OCC approval is for a limited-purpose trust charter, which does not allow the bank to make loans or take federally insured deposits. Instead, it permits a narrow set of activities tied to stablecoin infrastructure, positioning the trust company as the regulated operating layer for USD1. WLF submitted its de novo application to the OCC in January 2026. In February, the agency adopted a final rule defining the permissible scope of trust bank activities. Effective April 1, the rule confirmed that trust banks may engage in both fiduciary and nonfiduciary functions, a framework that can accommodate operational work such as stablecoin mechanics. Under the current administration, several crypto firms have received conditional bank charter approvals, placing World Liberty Trust Co. within a wider industry move toward federal supervision. Sen. Elizabeth Warren has raised conflict-of-interest concerns, pointing to the president's family operating a federally regulated financial entity as the administration eases rules affecting such entities. DT Marks DEFI LLC, an entity closely linked to the Trump family, holds 38% of World Liberty Financial, a controlling stake in a company that now has a federal bank charter approved by an agency led by officials who serve at the president's pleasure. For USD1 and other stablecoins, a trust charter can enable nationwide operations without obtaining separate money transmitter licenses in each state, a compliance hurdle that has challenged smaller issuers. The federal charter may also improve USD1's standing with institutional counterparties by placing its operations within an established national regulatory framework.