Trump-Linked World Liberty Gets Conditional Bank Charter for USD1 Stablecoin

3-line summary

• The Office of the Comptroller of the Currency granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, clearing a hurdle for the firm's USD1 stablecoin, according to a Decrypt report via Yahoo Finance.
• The proposed World Liberty Trust Company would take over issuing and redeeming USD1 from BitGo, the current exclusive issuer; the approval requires a $20 million minimum capital requirement and compliance with the GENIUS Act, and the bank has 18 months to open.
• The OCC said it received comments flagging potential conflicts of interest involving President Trump, his family and Emirati investors in World Liberty, but largely dismissed those concerns as outside the scope of its review.

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