Trump family stands to gain from World Liberty Trust’s national trust bank charter approval

The Office of the Comptroller of the Currency has given World Liberty Trust Co. conditional preliminary approval to operate as a national trust bank. The decision, handed down on August 14, directly benefits a venture in which the sitting president and his family hold a 38% ownership stake. What the charter actually does World Liberty Trust is a subsidiary of World Liberty Financial, the crypto-native venture co-founded by Donald Trump Jr., Eric Trump, and Barron Trump, with the former and current president listed as “co-founder emeritus.” The 38% ownership stake is held through an entity affiliated with the Trump family. The national trust bank charter authorizes World Liberty Trust to issue and custody the USD1 stablecoin under federal oversight. World Liberty Financial first submitted its application in January 2026, meaning the approval came roughly seven months later. The conditional nature of the approval means World Liberty Trust still needs to meet certain requirements before full operations begin. The conflict-of-interest problem Senator Elizabeth Warren has been among the most vocal critics of this dynamic, raising concerns about the OCC’s independence given the administr...