A federal financial regulator has conditionally approved a national trust bank charter for an entity connected to World Liberty Financial, a crypto venture partially owned by President Donald Trump’s family, enabling the company to issue and safeguard dollar-backed stablecoins directly.
Federal regulators have cleared a major hurdle for the cryptocurrency firm backed by President Donald Trump’s family. The Office of the Comptroller of the Currency issued conditional approval for World Liberty Trust Company‘s application to establish a national trust bank. The decision follows a letter posted on the regulator’s website.
Inside the Ownership Structure and Stablecoin Strategy
World Liberty Financial states on its website that it is 38% owned by an entity affiliated with Donald J.
Trump and certain of his family members.
The newly approved trust company charter carries distinct operational advantages for the enterprise. The banking charter will enable World Liberty to issue stablecoins, a specialized form of cryptocurrency backed by safe reserve assets like U.S. Treasurys that convert one-to-one into U.S. dollars.
Currently, the venture relies on a third-party provider, BitGo, to handle stablecoin services. Bringing those operations in house through a dedicated trust bank could prove highly lucrative for the firm.
Regulatory Shift and Capital Requirements Ahead
Despite Friday’s preliminary sign-off, the charter application remains incomplete. The company must fulfill several additional steps before the process reaches the finish line, most notably raising the necessary capital.
The approval reflects a broader pivot at the Office of the Comptroller of the Currency under the Trump administration. The agency has actively signaled its support for new bank charter applications, reviewing them in part through career staff. Agency data shows that the regulator has received 40 applications since 2025, marking a sharp increase compared to the volume seen during President Joe Biden’s term. Many of these pending applications are tied directly to digital asset and crypto projects.
Leadership Response and Capital Hill Friction
Zach Witkoff, who serves as co-founder and CEO of World Liberty Financial, chairman of Alt5 Sigma Corp., and chairman of the newly approved OCC-regulated trust company, addressed the regulatory milestone directly. Witkoff is the son of Trump’s Middle East negotiator Steven Witkoff.
Certain lawmakers have refused to support the Clarity Act—a comprehensive bill designed to regulate the broader crypto industry—objecting to the legislation because it fails to impose strict limits on a sitting president’s ability to profit from digital asset ventures.
Ahead of Friday’s preliminary decision, Sen. Elizabeth Warren, D-Mass., had urged the regulatory agency to reject World Liberty’s application unless the president completely divested his financial interests in the company. The regulatory agency itself declined to comment on the conditional approval.
What Remains Uncertain Before Full Launch
As World Liberty Trust Company works to satisfy the remaining conditions set by federal examiners, the timeline for full operational launch depends on capital formation and final administrative sign-offs. Whether the enterprise can successfully transition its stablecoin custody away from BitGo and into its own newly chartered vaults will test both the operational capacity of the firm and the durability of the regulatory framework supporting it.
