A trust company affiliated with the Trump family’s crypto business, World Liberty Financial, has received conditional approval to establish a bank.

The Treasury Department’s Office of the Comptroller of the Currency (OCC) on Friday granted preliminary approval to World Liberty Trust Company to establish a bank charter, a move that would allow it to issue and manage its own stablecoins without relying on a middleman.

The trust company is linked to World Liberty Financial, which President Trump’s sons founded in 2024 alongside the sons of Steve Witkoff, the Trump administration’s special envoy to the Middle East. World Liberty Financial is 38% owned by “an entity affiliated with Donald J. Trump and certain of his family members,”…