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World Liberty Financial bank charter
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
OCC conditionally approved World Liberty Financial's national trust bank charter on Friday. The move lets the Trump-backed crypto firm issue its USD1 stablecoin in-house.
Background
World Liberty Financial, co-founded by President Donald Trump and his sons, applied for a national trust bank charter in January. The OCC's conditional approval allows the company to issue and manage its own stablecoin, USD1, without relying on third parties like BitGo. The charter does not permit deposit-taking or lending, but it brings the firm under federal oversight.
How it unfolded
- Jan 5, 2026World Liberty Financial applied for a national trust bank charter with the OCC.
- Aug 14, 2026The OCC conditionally approved the application, allowing World Liberty to issue and manage USD1 stablecoin.
- Aug 15, 2026News outlets reported the approval, noting the company's 38% ownership by a Trump-affiliated entity.
- Aug 17, 2026Lawmakers and watchdogs criticized the decision, while World Liberty defended it as embracing regulation.
Who’s saying what
- Official
- The OCC granted preliminary conditional approval, citing the charter's compliance with federal banking regulations.
- Critics
- Sen. Elizabeth Warren and others called it a 'brazen act of self-dealing' due to Trump's financial stake.
- Company
- World Liberty's spokesperson said the charter ensures 'robust and permanent' regulatory supervision that outlasts the administration.
Still unverified
The claim that the approval is 'the most brazen act of self-dealing' is an opinion from critics, not a verified fact.