The Office of the Comptroller of the Currency (OCC) issued a letter on Friday confirming that World Liberty Trust Co. has received preliminary conditional approval for a national trust bank charter. This regulatory step allows the company to move forward with its plans to operate as a national trust bank, subject to specific conditions set by federal regulators. The firm is partially owned by members of President Trump’s family, a detail that has drawn attention given the intersection of the president's business interests and federal financial regulation.

While the OCC’s letter outlines the procedural approval, it does not guarantee a final charter. The company must now satisfy a series of requirements and operational milestones before the charter becomes permanent. The approval process for national trust banks involves rigorous review of capital requirements, risk management protocols, and compliance with anti-money laundering statutes. As of now, the company has not released a detailed timeline for when it expects to be fully operational or the specific scope of the financial services it intends to offer under this charter.