Trump-Backed Stablecoin Company Receives Conditional Bank Approval: Reserves Can Be Held in Bank

Trump-backed World Liberty Financial has received conditional approval from the U.S. for a national trust bank that can hold assets backing its USD1 stablecoin; additional conditions must be met for final authorization.

According to information reported by Bloomberg and announced by Wu Blockchain, the U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval for World Liberty Financial’s application to establish a national trust bank. The OCC serves as the federal agency that licenses national banks in the U.S. National trust banks stand out as entities that can provide asset custody and management services under a federal license.

This decision does not mean the company can start operating the bank immediately. Final authorization before the company must meet capital, governance, and oversight requirements. If the conditions are met, the bank will be able to hold the reserve assets backing the USD1 stablecoin issued by World Liberty. This would make it possible for USD1 reserves to be held within a regulated banking infrastructure.

Bank License Approvals Accelerate Again in the U.S.

During the first 19 months of Trump’s second term, the OCC approved 22 bank charter applications. This figure is more than the total of the previous five years. OCC data prepared as of August 19, 2026, also shows that bank approvals have risen again during the second Trump term compared to previous years.

World Liberty’s application solidifies its plan to move USD1 reserves into the regulated banking system. However, the bank has not yet been definitively established. The company must fulfill the necessary conditions and obtain final authorization from the OCC. Until this process is completed, it will not be possible for the assets backing USD1 to be held by the new bank.