Via usmagazine.com
World Liberty USD1 trust bank gets preliminary OCC approval
World Liberty Trust Co. received conditional approval to handle issuance, custody, and redemption of the family's USD1 stablecoin under relaxed federal charter rules.
The Office of the Comptroller of the Currency (OCC) gave World Liberty Trust Company preliminary conditional approval on August 14, 2026. The decision concerns a proposed national trust bank tied through indirect common owners to World Liberty Financial, the company behind the USD1 stablecoin. It is not a final charter or permission to start operating.
What the proposed bank would do
If it receives final authorization, the trust bank plans to issue and redeem USD1 for institutional clients and maintain its dollar-backed reserves. It also proposes digital-asset custody for institutional customers and limited stablecoin conversion services for those custody customers.
The OCC says BitGo Bank & Trust is currently USD1’s exclusive issuer and custodian. World Liberty Trust Company plans to assume that role after it is established. The agency describes the proposed bank as a subsidiary of WLTC Holdings LLC and says the bank and World Liberty Financial have indirect common owners.
What remains pending
The OCC’s decision requires the proposed bank to meet preopening conditions before it can receive final approval and authorization to commence business. The preliminary decision alone does not let World Liberty Trust Company operate as a national trust bank or take over USD1 issuance from BitGo.
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For crypto readers, the direct regulatory development is the OCC’s willingness to consider a federally chartered USD1 issuer. Whether that plan becomes an operating bank depends on a later final decision, not the August preliminary letter.