The Office of the Comptroller of the Currency (OCC) on Friday granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, a crypto venture partially owned by President Donald Trump’s family.
The decision, announced in a letter posted on the OCC’s website, advances World Liberty Financial’s plans to establish a national trust bank focused in part on issuing and managing the USD1 stablecoin.
World Liberty Trust Company, National Association, would be based in Bay Harbor Islands, Florida, and plans to issue and redeem USD1, maintain reserves backing the stablecoin and provide digital asset custody and…
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