OCC Conditionally Approves Creation of World Liberty Trust Bank

On August 14, the Office of the Comptroller of the Currency (OCC) issued a conditional approval for World Liberty Trust to create a national trust bank. This approval allows the company to operate under federal oversight and potentially expand its activities in the digital asset space, including infrastructure related to the USD1 stablecoin. The approval is preliminary and contingent upon the fulfillment of additional conditions. If all conditions are met, the bank will be authorized to conduct operations involving digital assets, marking a continuation of the trend where crypto companies seek banking and trust licenses directly from regulators rather than relying on third-party banks. The final approval has not yet been granted; the current status remains as conditional approval.