World Liberty Financial Nears OCC Conditional Approval for National Trust Bank Charter to Custody USD1

World Liberty Financial co-founder Zach Witkoff said on or around May 21, 2026 that the Trump-family crypto firm is in “the final stages of receiving conditional approval” for the national trust bank charter it sought through WLTC Holdings LLC, whose application was filed with the Office of the Comptroller of the Currency on January 7, 2026. The charter — under OCC supervision — would let WLF custody and issue its USD1 stablecoin (which reached $3.3 billion in circulation since its March 2025 launch) and access national payment networks, converting the venture into a federally chartered trust bank with Witkoff as proposed president and chairman. The advance follows the OCC’s 12 CFR 5.20 trust-bank chartering rule taking effect April 1, 2026, and the lapse of the OCC’s 120-day decision window on May 7, 2026 with no decision then announced.

This closes the regulatory loop opened by the 2026-04-01 OCC trust-bank rule and the GENIUS Act stablecoin framework: the Treasury secretary who sets stablecoin rules (Bessent) presides over the bureau (OCC) now poised to charter the president’s family stablecoin issuer as a bank, after that same bureau twice rebuffed Sen. Warren’s requests to pause the review (2026-01-23--occ-comptroller-gould-refuses-warren-demand-pause-wlfi-charter). It is the federal-charter stage of the personal-enrichment loop documented across the WLFI/USD1/Tahnoon entries. Direct successor to the pre-decision baseline event 2026-05-06--occ-120-day-decision-window-wltc-holdings-expires-no-decision; load-bearing for the Capture Cascade economic-command-capture framing and the MAGA Empire crypto-capitalism category.