World Liberty Trust Company, National Association, a Trump-family-backed issuer tied to World Liberty Financial, received preliminary conditional approval from the Office of the Comptroller of the Currency on August 14, 2026, for a limited-purpose national trust bank headquartered in Bay Harbor Islands, Florida. CEO Zach Witkoff confirmed the milestone. The application, filed in January 2026 and decided after roughly 220 days, would support issuance, custody and redemption of the dollar-pegged USD1 stablecoin but would not allow federally insured deposits or lending. Conditions include at least $20 million in tier 1 capital, with at least $10 million in eligible liquid assets, a five-member board, and completion of the OCC’s organization phase before operations can begin. Reserve custody for USD1 has been handled in part by BitGo Bank & Trust. The decision sits within a wider wave of digital-asset charter bids and under the GENIUS Act stablecoin framework, while remaining a licensing step rather than an immediate product change for holders.