Donald Trump-backed cryptocurrency venture World Liberty Financial received conditional approval for a national trust bank charter from the US Office of the Comptroller of the Currency on Friday, 14 August, allowing it to bring key stablecoin operations in-house as the president’s crypto interests face growing political scrutiny.

The charter was granted to World Liberty Trust Company, which is sponsored by World Liberty Financial and would be able to issue its USD1 stablecoin, manage its reserves and provide digital asset custody services. The institution would not be permitted to accept traditional deposits or make loans.

Reuters reported that the approval remains subject to conditions including maintaining at least $20 million…