Trump-Linked Crypto Venture Eyes Federal Trust Bank Charter Approval

World Liberty Financial (WLFI), the crypto venture linked to former US President Donald Trump, is nearing approval for a federal trust bank charter from the Office of the Comptroller of the Currency (OCC).

This would grant WLFI regulated custody services, fiduciary and trust functions, and institutional-grade infrastructure, all crucial for stablecoin operations and smoother on/off-ramps between crypto and traditional money.

The OCC views this as a way to bring more crypto activity into regulated channels rather than leaving it in the shadows. However, critics are raising questions about potential conflicts of interest due to Trump's involvement.