World Liberty Nears U.S. Bank Charter, Raising $187 Million Trump Conflict Questions
Updated
Updated · Vox.com · Jun 26
World Liberty Nears U.S. Bank Charter, Raising $187 Million Trump Conflict Questions
1 articles · Updated · Vox.com · Jun 26
Summary
World Liberty Financial is close to winning a national trust bank charter, a step that would let it issue its USD1 stablecoin more directly in the United States.
That approval would cut reliance on crypto exchanges and outside custodians, allowing the company to keep more transaction fees and hold stablecoin reserves under a federal banking structure.
Critics say the application poses an acute conflict because the Office of the Comptroller of the Currency reviews the charter while operating under Trump’s administration, potentially shifting oversight away from state regulators.
Foreign money has intensified those concerns: a UAE royal family member reportedly bought a 49% stake before Trump’s inauguration, netting the Trump family at least $187 million, and a UAE-backed firm later used $2 billion of USD1.