The U.S. Office of the Comptroller of the Currency has conditionally approved World Liberty Financial's application to form World Liberty Trust Company, National Association, a national trust bank that would issue, manage reserves for and provide digital-asset custody tied to the Trump-linked firm's USD1 stablecoin if it wins final clearance. The proposed institution still must meet OCC conditions, including separate final approval, and would not accept deposits, carry FDIC insurance or seek a Federal Reserve master account. If it opens, the trust bank would replace BitGo as the exclusive issuer and custodian of USD1, which has a $4 billion market capitalization and ranks fourth among stablecoins by that measure. The decision has drawn sharper political backlash after Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, and nine other Senate Democrats introduced the Ending Presidential Corruption in Banking Act, which would bar the president, vice president, their immediate family members and other senior government officials from owning or controlling banks. Democrats say the charter would expand the financial power of a crypto business in which Trump-linked entities hold about a 38% stake and from which Trump's disclosures show he has earned substantial income. The White House has said there are no conflicts of interest, while World Liberty says the charter would place the business under ongoing OCC oversight and stronger federal compliance standards.