World Liberty Financial nears US bank charter approval

World Liberty Financial (WLFI) is expected to receive approval to operate a U.S. federal trust bank. According to The Block, the Office of the Comptroller of the Currency (OCC) is scheduled to announce a final decision on the bank charter application soon, with OCC officials reportedly viewing the approval as a virtual certainty. If the charter is confirmed, WLFI will be able to directly issue and redeem its stablecoin, USD1. The company will also be able to manage reserves, provide crypto custody, and offer payment and settlement services under a single federal regulatory framework.