Eric Trump and two other World Liberty Financial investors have agreed to limit their influence over the management of the company’s proposed national trust bank as it seeks final OCC approval. The Office of the Comptroller of the Currency granted preliminary approval last week, with investors signing passivity commitments. If approved, the trust bank would be able to issue and redeem the USD1 stablecoin, which has a market capitalization of nearly $4 billion. The proposal has faced political scrutiny, with Senate Democrats introducing legislation to prevent bank charters for companies owned by a president or their family members.
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