Trump-Owned Crypto Company, World Liberty Trust Co., Receives Conditional Approval to Become a Bank and Issue Stablecoins
World Liberty Trust Co., a cryptocurrency company co-founded by President Trump and his sons, has received conditional approval from the Treasury Department to operate as a bank. This approval, granted on August 14, specifically authorizes World Liberty to issue stablecoins, a type of cryptocurrency pegged to the U.S. dollar. According to President Trump's financial disclosure, the company generated nearly $800 million for him in 2025. Zach Witkoff, CEO of World Liberty Financial and son of diplomat Steve Witkoff, stated the company's ambition is to build the most trusted digital dollar globally and strengthen the U.S. dollar's role. The Trump organization actively promotes the company on its website. The approval letter from the Office of Comptroller of Currency addressed public comments regarding potential conflicts of interest, stating that career staff, not the comptroller appointed by President Trump, supervise and enforce banking laws. 
