World Liberty Financial expects to obtain approval from the U.S. OCC

The cryptocurrency project World Liberty Financial, supported by the Trump family, is expected to receive approval from the Office of the Comptroller of the Currency (OCC) soon to operate as a national trust bank. Two unnamed former OCC employees revealed that the application is almost certain to be approved. World Liberty Financial established a U.S. trust company in January of this year and submitted an application to the OCC. Obtaining a federal trust bank charter will allow the project to issue and redeem its USD 1 stablecoin, manage reserves, provide digital asset custody, and offer conversion and settlement services under a single federal regulatory authority, without relying on third-party intermediaries. Currently, the project's intermediary is BitGo.