The cryptoproject of US President Donald Trump’s family, World Liberty Financial (WLF), is close to receiving a national trust bank license from the Office of the Monetary Controller (OCC). The license will be granted to WLF’s daughter entity, the World Liberty Trust Company. According to the NOTUS publication, two former OCC employees on condition of anonymity reported that approval was almost guaranteed and refusal called "unthinkable".

Obtaining national trust bank status will allow the company to self-issue $USD1 stablecoins, store digital assets, manage reserves and provide billing services. In addition, it would make it possible to work under uniform federal rules, avoiding the need to obtain licenses in each state separately. The WLF spokesperson assured that the company would be under strict ongoing oversight by OCC and comply with all regulations, including anti-money laundering and consumer protection requirements.

Bloomberg estimates that the World Liberty Financial project could generate some $150 million in revenue for Trump’s family by the end of this year. The bulk of this revenue is expected to be generated by the launch and development of $USD1 stablecoin.