The OCC granted preliminary conditional approval to World Liberty Trust Company to organize as a national trust bank. This approval, issued on August 14, follows a 221-day review process and would allow World Liberty to directly issue, redeem, and custody its USD1 stablecoin under federal oversight. The Trump family holds a 38% stake in World Liberty Financial, placing this approval squarely in the middle of Senate debate over the CLARITY Act. The charter would not authorize World Liberty Trust to accept insured deposits or make loans. The approval remains conditional on meeting undisclosed requirements from the OCC.
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