The Office of the Comptroller of the Currency has confirmed it will continue reviewing World Liberty Financial’s application for a national trust bank charter despite political concerns raised by lawmakers.
The regulator rejected a request from US Senator Elizabeth Warren to halt the process until US President Donald Trump divests his reported interest in the crypto platform.
The OCC said the review will proceed under existing regulatory standards that apply to all bank charter applications.
Jonathan Gould, the Trump-appointed head of the OCC, addressed the matter in a written response dated Friday.
The OCC intends to act consistent with this duty rather than your demand.
Jonathan Gould said.
The OCC charter application process should be, and under my leadership will be, an apolitical and nonpartisan process.
Jonathan Gould also added.
Gould added that World Liberty Financial’s submission would face the same level of scrutiny as any other applicant.
He described the assessment as a rigorous review designed to test governance, compliance, and financial resilience.
Senator Warren had argued that political influence could undermine the credibility of the charter approval process.
Her concerns centred on public disclosures linking the Trump family to the founding of World Liberty Financial.
Warren cited listings that name Donald Trump and his sons Eric Trump, Donald Trump Jr, and Barron Trump as founders of the platform.
She also pointed to the large paper gains reportedly generated for the family since the platform’s launch.
World Liberty Financial filed its charter application with the OCC on 7 January.
The company said the move is intended to expand its crypto operations within a regulated banking framework.
Approval would allow the firm to issue, custody, and convert its USD1 stablecoin directly.
The change would reduce reliance on third-party service providers such as BitGo for core banking functions.
USD1 has already seen broad use in cross-border payments, settlements, and treasury management.
Since launching in March 2025, USD1 has grown into the sixth-largest stablecoin by market capitalisation.
The token’s market value has reached approximately $4.2 billion, according to industry data.
Crypto firms have historically faced difficulty securing national trust bank charters in the United States.
Regulators have often cited risk management and consumer protection concerns when reviewing applications.
Momentum shifted in December when the OCC issued conditional approvals to several major crypto and financial firms.
Those approvals went to Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos.
The decisions were widely seen as a signal of growing openness to integrating crypto services into traditional finance.
The outcome of World Liberty Financial’s application is now expected to test that regulatory shift further.