The U.S. Monetary Supervisory Authority (OCC) has granted conditional approval to World Liberty Trust Company's national trust bank licence application. This means that the agency associated with World Liberty Financial is one step closer to entering the United States regulated banking system, but the application is still pending.
World Liberty Financial disclosed on the official web that an entity linked to the Trond extended membership of some of its family members held 38 per cent of the company ' s shares. As a result of this equity relationship, the approval quickly attracted Washington ' s attention, focusing on whether the President ' s family would benefit directly from encryption.
Once the license has been granted, you can run your own currency stabilization service.
According to CNBC ' s reference to documents published by OCC, this license plate, if ultimately landed, would allow World Liberty to carry out related operations within the framework of the Trust Bank, including the transfer of partial stabilization currency services to internal processing rather than relying entirely on third-party institutions such as BitGo.
Stable currency is usually held as a reserve for highly liquid assets, such as United States Treasury debt, and supports conversion to United States dollars on 1 to 1. For the issuer, business control and revenue space may be enhanced if the hosting, liquidation or related business chain is self-employed.
Application still requires capital, etc.
However, this ratification did not occur informally. The OCC document shows that World Liberty Trust Company still needs to complete the next steps, including requirements such as capital replenishment, before the entire licensing process is completed.
The OCC has a more positive attitude towards new bank licence applications in Trump. According to institutional data, since 2025, OCC has received 40 applications, which are significantly higher than the Biden term, many of which are related to encryption projects.
Democrats question conflicts of interest.
Zach Witkoff, CEO of World Liberty Financial, stated that the company would welcome continued review by federal regulators. He is also Chairman of the OCC-supervised trust company. According to publicly available information, he is also the son of Steven Witkoff, the negotiator for the Middle East in Trump.
This approval also triggered again the criticism by Congress Democrats of Trump's encryption interests. Some Democrats have previously opposed the advancement of the Clarity Act, inter alia, because the bill does not impose more severe restrictions on the President ' s profits from encryption projects.
Additional information:Senator Elizabeth Warren had previously urged OCC not to grant the application without expropriating the interest; OCC did not comment further on this conditional approval.