The OCC has granted preliminary conditional approval to establish World Liberty Trust Company (WLTC), World Liberty Financial’s proposed national trust bank. If it completes the chartering process and satisfies all regulatory requirements, WLTC will be able to issue and redeem #USD1, manage its reserves, and provide digital asset custody services to institutional clients—all under federal supervision. #USD1 has already surpassed $4 billion in circulation. Where do the Witkoffs come in? WLTC will be organized by WLTC Holdings LLC and chaired by Zach Witkoff, co-founder and CEO of World Liberty Financial. Its board will also include Robert Witkoff and Scott Alper, President and Chief Investment Officer of Witkoff Group, alongside two independent directors. This is a major milestone for $WLFI and #USD1, but an important distinction remains: this is not final approval, and it does not mean the bank can begin operating immediately.
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