Trump Family Crypto Firm Set for Massive Boost with National Bank Charter

The Trump family's crypto firm, World Liberty Financial, is on track to receive a national bank trust charter. This would allow it to issue its own USD1 stablecoin directly to American consumers and sidestep liquidity requirements.

According to two former staffers at the Office of the Comptroller of the Currency, the approval is almost certain. Jonathan Gould, the current Trump-nominated comptroller of the currency, has a history of easing restrictions for crypto companies seeking bank charters.

The charter would grant World Liberty Financial significant powers, including the ability to settle financial transactions like those on Venmo or PayPal. The Trump family could potentially receive a cut from these transactions.