World Liberty Financial has received preliminary conditional approval from the Office of the Comptroller of the Currency to establish a national trust bank that would issue and safeguard its USD1 stablecoin. The decision, reported on August 27, 2026, marks a major regulatory step for the Trump family-linked crypto venture.
The bank's holding company is WLTC Holdings, but Sheikh Tahnoon bin Zayed al Nahyan — the UAE's national security advisor and brother of the country's president — and co-investors used a separate entity called StringZ Holding RSC to hold a 49% stake. Sheikh Tahnoon and his co-investors previously invested $500 million into World Liberty Financial just days before President Donald Trump's inauguration, according to The Wall Street Journal.
World Liberty Financial issues the USD1 stablecoin, which has a market capitalization of roughly $4 billion and ranks as the fourth-largest stablecoin after Tether and USDC. The planned national trust bank would offer stablecoin issuance and redemption, on-ramp and off-ramp services, and custody and conversion. The OCC approval is conditional on meeting specific requirements and passing a final examination before operations can begin.
The arrangement has drawn political scrutiny. White House Principal Deputy Press Secretary Anna Kelly said there were “no conflicts of interest,” while top Senate Democrats and House members have urged hearings and investigations into funds flowing to World Liberty Financial from the UAE royal family.
For the crypto market, the move could enhance institutional trust in stablecoins and increase competitive pressure across the dollar-backed digital currency sector.
