World Liberty Financial nears OCC trust bank approval for USD1 operations
Former Office of the Comptroller of the Currency officials told NOTUS approval is now widely expected, a step that would let the Trump-backed crypto project run more of USD1’s core infrastructure in-house.
World Liberty Financial is moving closer to U.S. Office of the Comptroller of the Currency approval to become a federal trust bank, with former OCC officials telling NOTUS that approval of the Trump-linked crypto firm’s application is now widely expected. The project applied in January. A federal trust charter would let it issue and redeem the USD1 stablecoin, manage reserves, and provide digital-asset custody, conversion, and settlement services without third-party intermediaries. That would give the project a more direct role in the stablecoin’s operational infrastructure and reduce its reliance on outside service providers.
- federal trust bank: A federally chartered trust institution that can provide custody and related financial services.
- USD1 stablecoin: World Liberty Financial's dollar-linked token referenced in the report.
- custody: Safekeeping and administration of client assets.