Trump-Backed World Liberty Financial Nears Federal Crypto Banking Approval

World Liberty Financial is reportedly close to receiving approval for a federal trust banking charter from the Office of the Comptroller of the Currency (OCC).

According to reports, OCC head Jonathan Gould is expected to announce the decision soon. Former agency officials familiar with the process said approval is highly likely after the company submitted its application earlier this year.

If approved, the charter would allow World Liberty Financial to operate as a national trust bank under a single federal regulator. The company would be able to issue and redeem its USD1 stablecoin, manage reserves, provide digital asset custody services, and process crypto payments directly without depending on outside firms.

Political Scrutiny Grows Around Trump Crypto Business

The expected approval has also increased political debate in Washington over possible conflicts of interest connected to Trump’s financial involvement in the company. Reports show a Trump-linked entity receives a large share of proceeds from World Liberty Financial’s token sales.

Lawmakers have also raised concerns about the firm’s reported international business relationships, including investments linked to the United Arab Emirates and Binance. During a Senate hearing earlier this year, Senator Elizabeth Warren publicly questioned whether regulators should delay or reject the application over national security and ethics concerns.

The White House has denied any wrongdoing, stating that Trump’s business assets are managed separately by his children.