The Trumps' Crypto Project Just Got One Step Closer to Becoming a Bank
The Office of the Comptroller of the Currency has granted conditional approval for the Trump family's crypto venture, World Liberty Financial, to operate as a bank. This move allows the company to issue its own stablecoin tokens domestically, raising concerns about potential conflicts of interest.
Why it matters
It represents a significant intersection of presidential private business interests and federal regulatory policy.
Trump appears at a March 2025 White House cryptocurrency summit alongside Treasury Secretary Scott Bessent, whose department houses the Office of the Comptroller of the Currency. Chris Kleponis/CNP/Zuma
Federal regulators have given President Donald Trump’s family crypto business a conditional approval to operate like a bank. On Friday, the Office of the Comptroller of the Currency—led by Trump appointee Jonathan Gould— announced that World Liberty Financial, a crypto venture controlled by the Trump family, was on track to receive a banking charter. This will allow World Liberty Financial to issue its stablecoin tokens —called “USD1″—inside the United States without an intermediary.
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