Key facts
- The OCC granted World Liberty Trust Company conditional preliminary approval for a national trust bank charter.
- World Liberty Trust Company is allowed to issue and manage its USD1 stablecoin.
- The company will provide digital asset custody services.
- The approval is contingent on meeting further OCC requirements.
The Office of the Comptroller of the Currency (OCC) has issued a conditional preliminary approval for a national trust bank charter to World Liberty Trust Company. This significant development permits World Liberty Trust to proceed with issuing and managing its USD1 stablecoin. Additionally, the company will be able to provide digital asset custody services to its clients. The approval, however, is not final and is contingent upon World Liberty Trust Company meeting further requirements stipulated by the OCC. This charter represents a step towards integrating traditional banking services with digital assets.