US OCC Conditionally Approves Bank Charter for Trump Family-Linked Crypto Firm World Liberty

The U. S. Office of the Comptroller of the Currency (OCC) on August 14, 2026, conditionally approved the bank charter application for an entity associated with the crypto firm World Liberty Financial. The entity, World Liberty Trust Company, is sponsored by World Liberty Financial, which is partially held by the family of U. President Donald Trump. The company's website shows that 38% of its shares are owned by "entities affiliated with Donald Trump and certain of his family members."

The bank charter will allow World Liberty to issue stablecoins, a type of cryptocurrency backed by safe reserve assets such as U. Treasury bonds and redeemable one-to-one for the U. dollar. The OCC noted that the charter application process is not yet fully complete, and the firm must still complete additional steps, including raising capital.

Since 2025, the OCC has received 40 bank charter applications, a significant increase from the Biden administration era, many of which are tied to crypto projects. Under President Trump, the OCC has emphasized support for new bank charter applications, with some approvals handled by career employees. In a statement, World Liberty Financial CEO Zach Witkoff welcomed the continued oversight from federal regulators over the years. Witkoff also serves as chairman of the trust company regulated by the OCC; he is the son of Steven Witkoff, Trump's Middle East negotiator.

Some congressional Democrats have refused to support the Clarity Act to regulate the crypto industry, as it does not strictly limit the president's ability to profit from crypto businesses. Senator Elizabeth Warren, a Democrat from Massachusetts, previously urged the OCC to reject World Liberty's application unless Trump divested his interest in the company. The OCC declined to comment on the approval.