WLFI gets preliminary conditional approval from U.S. OCC for federal trust bank

WLFI said it received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency to establish World Liberty Trust Company, N.A. After final approval, WLFI plans to have the trust company directly handle issuance and redemptions of its USD1 stablecoin and manage reserve assets. The company also plans to offer digital-asset custody services for institutional investors. WLFI described the approval as a milestone rather than the final step and said it must meet additional OCC conditions before it can begin operations.