OCC Grants Conditional Bank Charter to Trump-Backed World Liberty Financial
The Office of the Comptroller of the Currency granted conditional approval for World Liberty Financial, backed by President Donald Trump, to operate as a national trust bank, according to CoinDesk and The Block.
The approval came on Friday, according to The Block, and would allow the entity to operate as World Liberty Trust Company.
The proposed trust company would take over issuance of the USD1 stablecoin from BitGo, according to Decrypt. BitGo currently issues the token.
The charter is conditional, meaning World Liberty Financial must still satisfy requirements set by the OCC before the trust company can begin operating, according to CoinDesk and The Block.
Sources: CoinDesk, The Block, Decrypt
This article is for information only and is not financial advice.
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