World Liberty Gets Conditional OCC Approval to Issue USD1 Through National Trust Bank The Office of the Comptroller of the Currency (OCC) has conditionally approved a national trust bank charter for World Liberty Trust Company, allowing it to issue its widely used USD1 stablecoin under a federally supervised banking structure.
This approval is significant not just for World Liberty's plans but also for the implications it has on the regulation of cryptocurrencies and their relationship with traditional finance.
The conditions attached to the approval are standard for any bank or trust company seeking OCC oversight, including maintaining at least $20 million in capital, appointing a qualified internal audit manager, and notifying the regulator of major changes to the company's business plan.