Trump-Linked World Liberty Financial Receives OCC Approval
DeFi firması, ulusal bir güven bankası için ön koşullu onay aldı.
1World Liberty Financial's First Major Step
Trump family-linked World Liberty Financial received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank. This approval paves the way for the firm's $4 billion USD1 operation. OCC requires World Liberty Trust to hold at least $20 million in Tier 1 capital. The firm must open its bank within 18 months after meeting OCC requirements.
2The Rise of USD1 Stablecoin
At the heart of World Liberty Financial's expansion is the USD1 stablecoin. USD1 maintains a $1 value backed by cash and short-term U.S. Treasury bills. By mid-August, its market capitalization reached $4.036 billion, positioning USD1 among the significant dollar-linked cryptocurrencies. This growth strengthens the firm's claim in digital asset management.
3Plans to Take Over from Bitgo
Bitgo Bank Trust manages USD1 issuance and custody through an exclusive arrangement. World Liberty plans to acquire USD1 reserve assets and associated liabilities from Bitgo if it receives final authorization. This move aims to bring the stablecoin's infrastructure directly under the firm's control, enhancing operational independence.
4National Trust Bank Model
World Liberty's charter differs from a traditional banking license. The firm will operate as a national trust company, focusing on fiduciary and related activities rather than accepting traditional deposits or issuing commercial loans. This model is specifically designed for digital asset management.
5OCC's Preliminary Conditions
OCC's preliminary approval covers USD1 issuance, redemption, reserve management, and digital asset custody. World Liberty argues that consolidating these functions under one federal institution will make USD1 more attractive for institutional payments and treasury operations. However, the bank must meet capital and compliance requirements to open.
6Capital and Compliance Obligations
World Liberty Trust Company must hold at least $20 million in Tier 1 capital. Additionally, it must maintain liquid assets equivalent to $10 million or 50% of Tier 1 capital. The firm must also have sufficient liquidity to cover 180 days of operational expenses. These requirements aim to ensure the firm's financial stability.
7Criticism and Controversies
The Trump family's financial stake in World Liberty and foreign investors have drawn criticism. Democratic lawmakers and other critics argue that these relationships could influence federal regulators' decisions. Massachusetts Senator Elizabeth Warren called this situation 'the most blatant conflict of interest in the financial system' and drafted a bill to address it.
8Next Steps and Expectations
World Liberty is in the process of raising capital, building compliant systems, and passing regulatory examinations. OCC retains the authority to modify, suspend, or rescind its preliminary decision if conditions change. Overcoming these hurdles will give World Liberty direct control over the critical infrastructure behind one of the larger U.S. dollar stablecoins. The process is challenging but crucial for the firm's goals.
Original article: Bitcoin News — Trump Bağlantılı World Liberty Financial'e OCC Onayı