The Trump family's crypto project, World Liberty, is reportedly about to obtain a Federal Trust Bank license from the U.S. OCC.

CoinFeed reported on June 17th that, according to The Block citing NOTUS, World Liberty Financial, a Trump-backed crypto project, is expected to soon receive approval from the Office of the Comptroller of the Currency (OCC) to become a Federal Trust Bank. OCC Commissioner Jonathan Gould is expected to announce the decision soon, and two former OCC employees stated that approval is "almost a done deal." World Liberty submitted its application in January of this year. A Federal Trust Bank license would allow it to issue and redeem the USD1 stablecoin, manage reserves, and provide digital asset custody, conversion, and settlement services without relying on third-party intermediaries.