US regulator grants banking license to Trump-linked crypto firm World Liberty Financial, enabling it to issue the USD1 stablecoin and custody digital assets
Executive summary: US regulator granted a banking license to World Liberty Financial, the crypto venture operated by the sons of former President Donald Trump, permitting the firm to issue the USD1 stablecoin and to hold and manage client digital assets. The license legitimizes a Trump‑associated crypto entity within the regulated banking system, potentially increasing stablecoin adoption and prompting other crypto firms to seek similar charters.
Who is involved: World Liberty Financial (Trump family), US banking regulator (e.g., Office of the Comptroller of the Currency), clients and stablecoin users.
Likely next: The firm may launch the USD1 stablecoin publicly, attract institutional clients, and face ongoing supervisory oversight; regulators may also review other crypto banking applications.
The Office of the Comptroller of the Currency (or relevant US regulator) has approved a banking charter for World Liberty Financial, a firm managed by the Trump sons, allowing it to directly issue the USD1 stablecoin and provide custody and asset‑management services for clients. This move bridges traditional banking with crypto stablecoin issuance, potentially expanding regulated crypto services in the United States. It follows a broader trend of regulators evaluating crypto firms for banking privileges amid growing demand for compliant digital asset platforms.
Timeline
- — El regulador estadounidense concede la licencia bancaria a la empresa cripto de los Trump (El País — Economía)
Analysis — what this means
Sectors affected
- crypto stablecoin issuance
- banking and custodial services
- digital asset management
Historical parallels
- 2020: OCC granted a national bank charter to Anchorage Bank for crypto custody services
- 2021: Wyoming approved special purpose depository institution (SPDI) status for Kraken Financial
- 2022: SEC filed lawsuit against Ripple Labs alleging XRP was an unregistered security