Donald Trump’s crypto business has reached a major step in its plan to enter the US banking system.
The Office of the Comptroller of the Currency, or OCC, has given preliminary conditional approval for World Liberty Trust Company, N.A. to receive a national trust bank charter. The approval is not final. The company must still meet key rules before it can open and begin full operations.
The OCC lists World Liberty Trust Company in its digital asset licensing records. The application was received on January 6, 2026.
The move is important because World Liberty Financial is linked to the Trump family. The firm has become a major part of the family’s crypto business. The planned trust bank would focus on digital asset services for clients.
World Liberty Trust would not operate like a normal retail bank. It would not take regular deposits or make loans. Instead, its planned work would include crypto custody and stablecoin services.
One key product is USD1, a stablecoin linked to the US dollar. The new bank could help the company manage digital assets and related services under a federal charter.
The approval could also reduce the firm’s need for outside service providers. World Liberty Financial has used third-party firms for parts of its digital asset operations. A national trust bank could give the business more direct control over custody and other services.
Still, the approval does not mean the bank can open at once.
The OCC says preliminary conditional approval is only one stage of the charter process. A proposed bank must meet preopening requirements before it receives final approval. The regulator can also change, suspend or cancel the preliminary approval if needed.
This process is not unique to World Liberty. The OCC has granted similar conditional approvals to other crypto firms. Ripple, Coinbase and other digital asset companies have also moved through the national trust bank process.
That point adds context to the World Liberty move. The OCC has been active in reviewing crypto bank applications in 2026. Its rules also allow national trust banks to conduct certain non-fiduciary activities linked to trust company work. The rule took effect on April 1, 2026.
Yet the World Liberty case has drawn extra attention because of its links to the sitting president.
Critics have raised concerns about possible conflicts of interest. They argue that a business tied to the president’s family gaining a federal banking charter creates serious questions about ethics and public trust.
Supporters point to the regulatory review itself. The OCC says it reviews charter applications based on the information and commitments made by each applicant. The agency also keeps the power to require more steps before a bank can begin work.
The next stage will now be closely watched.
World Liberty Trust must satisfy the OCC’s conditions and complete its required preopening steps. Only then can it receive final approval to start business.
For the crypto sector, the case is another sign that digital asset firms are seeking deeper links with the US financial system. For the Trump family, it marks another major step in the growth of its crypto interests.
The final decision will determine whether World Liberty Trust becomes a fully approved national trust bank. Until then, its federal status remains conditional, not final.
