Markets· August 17, 2026 at 12:20 p.m.
World Liberty Financial Secures Conditional Approval for National Trust Bank
Key takeaways
- World Liberty Financial has received a conditional charter from the OCC
- The bank will specialize in issuing and managing stablecoins
- Critics have raised concerns about potential conflicts of interest
The Office of the Comptroller of the Currency (OCC) has granted a conditional charter to World Liberty Financial, allowing it to establish its national trust bank. The bank will specialize in issuing and managing stablecoins and will be led by Zach Witkoff, CEO and chairman, who co-founded the company with Donald Trump's three sons. Critics have raised concerns about potential conflicts of interest due to the bank's ties to the president and his family. World Liberty Trust's stablecoin, USD1, has already reached over $4 billion in circulation.
