The Office for the Comptroller of the Currency (OCC) issued its preliminary conditional approval Friday (Aug. 14) for a national banking charter requested by World Liberty Financial (WLF), a company led in part by the president’s older sons.

WLF plans include “dollar-backed stablecoin issuance and redemption and reserve maintenance in a nonfiduciary capacity,” according to the OCC’s decision.

It will also provide “digital asset custody services as a fiduciary” as well as “conversion services for custody customers in connection with their custodied assets” but will not be permitted to issue loans or accept…