The U.S. Office of the Comptroller of the Currency granted preliminary conditional approval on August 14, 2026, for World Liberty Trust Company to establish a national trust bank. The decision does not allow the company to begin operating immediately. The OCC’s formal decision says final approval and authorization to commence business depend on meeting preopening requirements and completing the regulator’s final review.
What the proposed bank would do
The OCC document describes the proposed institution as a wholly owned subsidiary of WLTC Holdings, with its main office planned for Bay Harbor Islands, Florida. Proposed activities include issuing and redeeming a dollar-backed stablecoin, maintaining reserves, providing fiduciary digital-asset custody and offering limited conversion services for custody customers. The bank is expected to focus primarily on institutional clients.
The application process began in January
The OCC’s public file shows that the national trust bank application was dated January 5, 2026. The August decision marks a new stage in the regulator’s review. Filing an application, receiving preliminary approval and obtaining final authorization to open are separate legal steps.
USD1 operations could move inside the bank
The decision says the proposed bank plans to issue World Liberty Financial’s USD1 stablecoin to institutional customers nationwide. If final authorization is granted, the trust bank intends to bring USD1 issuance, reserve-asset custody and related institutional custody services into its own regulated structure.
This is not final authorization
The OCC explicitly describes its action as preliminary conditional approval. The bank must satisfy the preopening conditions listed in the decision. The regulator retains the right to modify, suspend or rescind the approval if interim developments warrant such action. The decision is therefore an important licensing step, but it does not show that the institution has opened or begun serving customers.
How it differs from a traditional bank
Reuters, reporting from the OCC decision, noted that a national trust bank structure can provide custody, settlement and asset-servicing functions under a single federal charter. It does not generally grant the same deposit-taking and lending powers associated with a traditional retail bank. References to a “bank approval” should therefore be read in the context of a limited-purpose national trust bank application.
Regulatory review will continue
The OCC said it evaluated the application using the information available, along with representations and commitments made by the organizers. Conditions involving capital, governance, internal controls, audit and operational readiness must be completed before final authorization. The verified scope of the development is limited to preliminary conditional approval and the regulator’s assessment of proposed stablecoin issuance and digital-asset custody within the national trust bank framework.
The OCC decision index lists the file as Corporate Decision 1385 with a letter dated August 14, 2026. Its description confirms that the application concerns the proposed World Liberty Trust Company and the establishment of a national trust bank in Florida.
