OCC Grants Conditional Charter to Trump-Backed World Liberty Trust for USD1 Stablecoin

Woofun AI reports that the Office of the Comptroller of the Currency (OCC) has granted World Liberty Trust Co. a conditional national trust bank charter, permitting fiduciary operations. This regulatory milestone establishes the entity's legal framework for trust-related activities, contingent upon further compliance.

Operational scope centers on the USD1 stablecoin, with World Liberty assuming issuance and custody duties from BitGo Bank & Trust, National Association (BitGo).

Woofun AI data shows the new charter enables digital asset custody services for institutional clients, replacing BitGo as the exclusive issuer. The transition targets nationwide distribution of the fiat-backed asset, positioning World Liberty as the primary fiduciary for USD1 holders.

Political context remains critical, as the application submitted in January of this year faced opposition from Democratic lawmakers over President Donald Trump's partial ownership of World Liberty Financial. Scrutiny intensified after an Abu Dhabi investment firm acquired a stake early last year, prompting career OCC staff to review the application for regulatory consistency. These concerns were formally addressed in public comments prior to the conditional approval.

Structurally, World Liberty Trust Company will not become a federally insured depository institution or a "bank" under the Bank Holding Company Act. It also foregoes access to a Federal Reserve master account, limiting its traditional banking privileges. Final authorization depends on satisfying preopening requirements, marking a cautious regulatory approach to politically linked crypto entities.