The Office of the Comptroller of the Currency granted preliminary approval Friday for World Liberty Financial, the cryptocurrency venture co-founded by President Trump and his sons, to establish a national trust bank that would issue and manage its USD1 stablecoin.
If it receives final approval, World Liberty Trust Company would be allowed to issue and redeem USD1, hold the assets backing it, and safeguard digital assets for institutional customers. It wouldn’t be permitted to accept federally insured deposits or make conventional bank loans.
“The OCC hereby grants preliminary conditional approval of your charter application upon determining…
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