World Liberty Financial has revealed that its bid to set up World Liberty Trust Company (WLTC), a national trust bank, has secured preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) in the United States. This bank will primarily engage in stablecoin-related activities, encompassing the issuance and redemption of USD1, a stablecoin pegged to the U.S. dollar, the management of reserve assets, and the provision of digital asset custody services tailored for institutional clients. Significantly, World Liberty Financial boasts strong connections to the Trump family. During its inception in 2024, both Trump family members and the Witkoff family played pivotal roles. Trump is officially recognized as an "Honorary Co-Founder" of the enterprise, while his son is also deeply enmeshed in its day-to-day business operations.