World Liberty Trust Company gets conditional approval
The Office of the Comptroller of the Currency granted preliminary conditional approval for World Liberty Trust Company, a national trust bank tied to the Trump family’s World Liberty Financial.
The proposed institution would be based in Bay Harbor Islands, Florida, and issue and redeem USD1, World Liberty’s stablecoin.
As a trust bank, it won’t take deposits, carry FDIC insurance or seek a Federal Reserve master account for now.