Trump-linked World Liberty gets conditional bank charter
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- World Liberty Trust Company received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter, pending completion of capital-raising and other steps
- World Liberty Financial, which is 38% owned by an entity affiliated with Donald J. Trump and certain family members, sponsors the trust company and plans to issue its own stablecoins
- Office of the Comptroller of the Currency has seen a sharp rise in crypto-related bank applications since 2025, with 40 filed under the Trump administration compared to fewer during Biden’s term
- Zach Witkoff, CEO of World Liberty Financial and chairman of the trust company, stated the firm welcomes ongoing federal regulatory scrutiny
- Sen. Elizabeth Warren previously urged the OCC to block the charter unless Trump divested his interests, highlighting concerns over presidential profiteering from crypto ventures
Why it matters: The conditional charter gives a Trump-affiliated firm a path to control its stablecoin issuance, a lucrative function currently outsourced. With Democrats citing ethics risks and the OCC processing more crypto charters under Trump, this move shifts financial infrastructure power toward politically connected crypto ventures.
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