World Liberty Trust Company, National Association

The OCC on Aug 14, 2026, granted preliminary conditional approval for World Liberty Trust Company, National Association, to operate as a national trust bank headquartered in Bay Harbor Islands, Florida. The bank would be a wholly owned subsidiary of WLTC Holdings LLC, a Delaware limited liability company. Its proposed activities include dollar-backed stablecoin issuance and redemption, digital asset custody as a fiduciary, and conversion services for custody customers.

The bank plans to issue USD1, a fiat currency-backed stablecoin, to institutional clients nationwide, assuming that role from BitGo Bank & Trust, National Association. Final approval under 12 USC 27(a) requires the bank to meet all preopening requirements. The OCC retains the right to modify, suspend, or rescind the preliminary approval if interim developments warrant such action.