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00:02The Office of the Comptroller of the Currency conditionally approved a National Trust Bank
00:07Charter for World Liberty Financial, the crypto venture linked to President Donald Trump and
00:12his family, according to Reuters. If approved, the charter would let World Liberty hold customer
00:18assets and settle payments through its trust bank, but generally not take deposits or make loans.
00:23The charter would allow World Liberty to directly issue USD1 and custody,
00:28the dollar reserves backing the stablecoin, functions currently handled by BitGo.
00:34World Liberty called the conditional approval a milestone, saying the charter would bring
00:39USD1 issuance, custody and reserve management under OCC supervision. The charter remains subject
00:46to conditions including maintaining at least $20 million in capital and hiring an internal audit
00:51manager. USD1 has grown to about $4 billion in market capitalization, making it the fourth
00:58largest stablecoin. For all things money, visit Benzinga.com.
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