The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for World Liberty Trust Company, National Association, to organize as a national trust bank. The decision follows a 221-day review process that began with an application submitted in January 2026.
If finalized, the charter would allow World Liberty Trust to directly issue, redeem, and custody its USD1 stablecoin under federal oversight. Currently, USD1 is managed by crypto custodian BitGo. Moving the stablecoin under OCC supervision places reserve management activities directly under federal regulatory watch, though the trust would not be authorized to accept insured deposits or make loans.
The USD1 stablecoin launched in March 2025, backed by cash, US Treasuries, and money-market funds, and operates across Ethereum, Solana, and Tron. It functions alongside World Liberty Financial's WLFI governance token. Zach Witkoff serves as CEO and chairman of the trust bank, having co-founded World Liberty Financial with Eric Trump and Donald Trump Jr.
The regulatory milestone coincides with a Senate debate over the Digital Asset Market Clarity Act, or CLARITY Act, which addresses conflicts of interest regarding crypto-related profits for government officials and their affiliates. An entity affiliated with the Trump family holds a 38% ownership stake in World Liberty Financial.
The OCC has experienced an increase in approvals for fintech and digital asset firms seeking national trust charters in 2026. Because the approval remains preliminary and conditional, World Liberty Trust must still satisfy the specific requirements and conditions set by the OCC before the charter can be finalized.
