World Liberty Nears Federal Trust Bank Charter for Expanded Stablecoin Powers

World Liberty Financial, a crypto venture co-founded by President Trump and his family, is on the cusp of receiving approval to operate as a federally chartered trust bank. The decision rests with the Office of the Comptroller of the Currency (OCC), led by Jonathan Gould.

A June 16 report from NOTUS said Gould is expected to announce his ruling on the application shortly, and two former OCC staffers told the outlet that approval is nearly certain, with one source calling rejection 'inconceivable.'

The trust charter would grant World Liberty the ability to issue and redeem its USD1 stablecoin directly, manage reserves, and provide custody, conversion, and settlement services under a single federal regulator. This would eliminate the need for intermediaries like BitGo and allow World Liberty to bypass many state-level regulations.

Backers of the application say it would enhance the firm's credibility with US institutions and enable more direct, efficient payments and settlement on its platform. The approval would also let World Liberty expand its USD1 stablecoin powers.