Key Highlights
- World Liberty Financial is creating a crypto bank, World Liberty Trust Co., and is looking to hire a CFO.
- The bank has applied for a national trust charter with the OCC to safeguard digital assets and expand its USD1 stablecoin.
- The application has drawn political attention, including concerns from Senator Elizabeth Warren over potential conflicts of interest.
The Trump family’s crypto company, World Liberty Financial, has created a new branch called World Liberty Trust Co. and is looking for a chief financial officer (CFO) to help run the proposed bank.
According to documents filed on January 5, 2026, the company has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). If approved, it would be able to hold digital assets and provide services like traditional banks.
“The proposed World Liberty Trust Company will have a world-class executive team befitting its station,” said company spokesperson David Wachsman.
Regulators open doors for crypto banks
The CFO position is currently listed as “to be identified,” but the company expects to fill it quickly. This move comes as U.S. regulators have become more open to crypto companies joining the federal banking system.
Jonathan Gould, who leads the OCC, said at a recent policy meeting that creating new banks is a “key priority,” adding that companies working with digital money “should have a pathway to become federally supervised banks, if they so desire.” Several other crypto firms, including Ripple and Paxos, have already received preliminary approvals to start trust banks.
World Liberty Trust’s board will include Zachary Witkoff, CEO of World Liberty Financial and son of co-founder Steven Witkoff, as chairman. Other members include Robert Witkoff and Scott Alper, an executive at the Witkoff family’s real estate company, who helped develop the USD1 stablecoin. Two independent directors, Jeffrey Weiner and Erin Baskett, will provide outside oversight.
Political scrutiny
The application has also drawn political attention. Critics, including Senator Elizabeth Warren, have raised concerns about possible conflicts of interest, given the Trump family’s direct financial stake in the company.
World Liberty Financial was founded months before the 2024 election by the Trump family and Steven Witkoff. Since its launch, the firm has issued the WLFI token and USD1 stablecoin, which have added hundreds of millions of dollars to the family’s wealth.
World Liberty Trust said it aims to “drive mainstream adoption” of USD1 and make it safe for big investors to hold digital assets. If approved, the bank would allow the Trump family to operate under federal supervision while offering services similar to traditional banks.
Additionally, the move could help make crypto more widely accepted and show that digital money can work alongside regular banks.
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