World Liberty Financial, the crypto venture backed by Donald Trump, is reportedly close to receiving a federal trust bank charter from the Office of the Comptroller of the Currency (OCC). The approval would place the firm under a single federal regulator, streamlining oversight of its USD1 stablecoin issuance and redemption operations. A federal trust charter is distinct from a full commercial banking licence but grants significant regulatory legitimacy, allowing the holder to custody assets and conduct trust activities nationwide. The development comes as the US Congress advances stablecoin legislation and multiple crypto firms seek direct federal oversight rather than navigating a patchwork of state money-transmitter licences. World Liberty Financial launched USD1 earlier this year, positioning it as a dollar-pegged stablecoin targeting institutional users.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.