Trump's NEW Crypto Bank?

begin quote from AI Overview:

 

World Liberty Trust Co., backed by Donald Trump's family crypto firm World Liberty Financial, received preliminary conditional approval for a national trust bank charter. 

Key Details

Regulator: The Office of the Comptroller of the Currency (OCC) granted the conditional approval. 
Ownership: An entity affiliated with Trump and his family owns a 38% stake, while an Abu Dhabi-backed entity tied to Sheikh Tahnoon bin Zayed Al Nahyan holds a 49% stake in the holding company. 
How It Works: As detailed by The Guardian, this is not a conventional commercial bank. It will not take traditional deposits, issue credit cards, or make loans. 
Main Purpose: The charter lets the company issue and manage its own stablecoin (USD1) in-house instead of using third-party services. 

Controversy and Next Steps

Ethics Concerns: Critics and lawmakers—including Senator Elizabeth Warren—have sharply criticized the approval, calling it a conflict of interest for a sitting president. 
Final Approval: The bank still must satisfy several regulatory requirements and pass a final review from the OCC before it can legally open for business. 

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  WSJ

  Trump Family's New Crypto Bank Is Backed by Abu Dhabi ...

  Aug 27, 2026 — Quick Summary * Sheikh Tahnoon bin Zayed al Nahyan of Abu Dhabi backs a 49% stake in the holding company behind World Liberty Fina...

  
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  The Guardian

  Crypto bank part-owned by Trump family offers depositors way to ‘gain favor’ with White House, experts say

  Aug 20, 2026 — World Liberty Financial Trust Company is a crypto bank that is partly owned by the Trump family. The bank is not a conventional ba...

  

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Trump Family's New Crypto Bank Is Backed by Abu Dhabi ...

WSJ

https://www.wsj.com › Markets & Finance › Currencies

Aug 27, 2026 — The Emirati 'spy sheikh' backs a 49% stake in the entity behind the new World Liberty bank.

Trump family-backed crypto firm World Liberty gets ...

CNBC

https://www.cnbc.com › 2026/08/14 › world-liberty-tru...

Aug 14, 2026 — Trump family-backed crypto firm World Liberty gets conditional bank charter approval ... Zach Witkoff, co-founder and CEO of World Liberty ...

Crypto bank part-owned by Trump family offers depositors ...

The Guardian

https://www.theguardian.com › us-news › aug › crypto-...

Aug 20, 2026 — USD1 was launched by World Liberty Financial in March 2025, two months after Trump re-entered the White House. About four months after that, the ...

World Liberty Financial

The Trump Organization

https://www.trump.com › digital-assets › world-liberty-f...

World Liberty Financial is a next-generation financial platform that bridges the gap between traditional banking and blockchain-powered innovation.