World Liberty Financial Bank charter approval moved Friday when the Office of the Comptroller of the Currency granted World Liberty Trust Co. conditional approval to establish a bank charter and issue a stablecoin tied to the U.S. dollar. The decision gives the Trump family's crypto business a direct path to act like a bank-like issuer instead of relying on BitGo.
38% Trump-linked ownership
38% of World Liberty Trust Co. is owned by an entity affiliated with Donald J. Trump and certain family members, making the approval unusually sensitive inside the banking system. The business can now issue digital currency to clients for transactions, with clients exchanging U.S. dollars for the stablecoin and profits flowing directly to the Trump family's crypto venture.
$1.4 billion in business revenue from the family's crypto ventures is already listed in Trump’s released financial disclosures, and the bank charter approval adds a new channel for that business model. World Liberty Financial had previously relied on BitGo to provide a stable digital currency, so the change shifts the service closer to the Trump-linked firm itself.
Zach Witkoff in Dubai
$2 billion from MGX arrived in May 2025, and World Liberty Financial co-founder Zach Witkoff later thanked MGX and Binance for their trust at a crypto convention in Dubai. Eric Trump appeared alongside him there, and the company’s USD1 stablecoin was the tool MGX said it would use in large transactions with Binance.
After the May 2025 investment, the Trump administration agreed to supply the UAE with American-made AI chips after prior concerns that they might make their way to China. That sequence put the business, the family, and the policy side of the administration in the same story line as the bank approval.
Anna Kelly on conflicts
Anna Kelly said, “President Trump’s assets are in a trust managed by his children” and “There are no conflicts of interest.” White House spokeswoman Anna Kelly said the president only acts in the best interests of the American public, while Democratic lawmakers warned about potential conflicts of interest.
First time in U.S. history is how the approval is described in the context of a company owned by the sitting president's family being granted bank status, which is why this Friday letter drew attention beyond crypto. What specific conditions World Liberty Trust Co. must meet before the charter is fully finalized is not explained, leaving the business approved but not yet fully through the gate.
