On August 14 (local time), World Liberty Financial, a crypto firm associated with the Trump family, announced that its trust company, World Liberty Trust Company (WLTC), has received conditional preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a federally chartered national trust bank. Upon final approval, WLTC will be able to directly issue, redeem, and custody its USD1 stablecoin, launched last year, without relying on BitGo for custody. Currently, USD1 has a market capitalization of approximately $4 billion, making it the fourth-largest stablecoin globally.