A national U.S. bank regulator on Friday conditionally approved a bank charter application linked to President Donald Trump and his family's crypto venture, World Liberty Financial, effectively greenlighting an expansion of its stablecoin operations. The Office of the Comptroller of the Currency said in a letter published on its website that it has granted conditional preliminary approval of World Liberty Trust Company's application for a national trust charter, which it applied for in January.
The charter, if ultimately approved at a later date, would allow World Liberty, through the newly created trust bank, to manage and hold assets on behalf of customers and settle payments faster. It does not generally permit deposit-taking or lending like traditional banks.
