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World Liberty Financial has obtained its license. The Office of the Comptroller of the Currency gave the green light on Friday to the company founded by Donald Trump’s sons to issue stablecoins — these cryptocurrencies pegged to the dollar, far less volatile than Bitcoin or classic Ethereum.
Not a full license, mind you. World Liberty Financial cannot grant loans. It also cannot accept direct deposits. These two privileges remain reserved for fully licensed banks. But even a partial authorization places the company ahead of competitors who have tried and failed: Wise and Bunq, two well-established names in European fintech, have not succeeded in crossing this hurdle. It says something about the difficulty of obtaining this type of license — and what World Liberty Financial has managed to achieve.
Stablecoins, for those who follow from a distance, are digital assets whose value is indexed to a traditional currency, usually the dollar. The idea is to offer the convenience of crypto without the price rollercoaster. The market has exploded in recent years, and several major players are fighting to position themselves in it.
The Genius Act Behind It All
This license does not arrive in a regulatory vacuum. Under the Trump presidency, the “Genius Act” was adopted to frame and institutionalize stablecoins in the United States. It is probably this legislative framework that opened the door to such requests — and perhaps facilitated its approval. The Genius Act aims to set clear rules on who can issue stablecoins, how, and with what guarantees for investors. For World Liberty Financial, it’s a favorable context. The company finds itself operating in a space now mapped out by a law that the Trump administration itself supported.
The White House has made no official comment on this license. No statement, no press release. Complete silence.
Trump, Cryptos, and the Growing Conflict of Interest
The timing is politically charged. Donald Trump recently claimed to have generated more than $1.16 billion through cryptocurrencies. This figure has ignited a firestorm on the Democratic side. Trump’s political opponents are pushing for an ethics clause that would prohibit government officials from profiting from the crypto sector during their tenure. A thorough examination of the issue is scheduled for the next parliamentary session.
And it’s not just stablecoins in the mix. Revenues related to memecoins have also fueled the debate. The Trump family, by getting so directly involved in the crypto sector, creates a situation where the lines between personal interest and political decision-making become blurred — or at least, that’s what his critics argue.
It’s not yet clear how far this legislative pressure will go. But it is rising, that’s certain.
World Liberty Financial, meanwhile, continues. The company is positioning itself in the stablecoin segment with this partial license in hand, giving it a credibility that few companies in the sector have managed to obtain through the American regulatory route. Wise and Bunq have tried. They did not achieve the same result.
The stablecoin market attracts investors seeking exposure to digital assets without experiencing the brutal volatility of Bitcoin or other cryptos. It’s a growing segment, and World Liberty Financial wants to be a central player in it. The OCC license, even partial, gives the company a real competitive advantage — a form of institutional legitimacy that unlicensed competitors do not have.
However, the political questions will not disappear. The $1.16 billion declared by Trump, the memecoins, and now a license granted to a family business in a sector that his administration actively regulates — Democratic legislators have material to work with. The upcoming parliamentary session should clarify whether an ethical reform on this subject has a real chance of passing.
For now, the OCC has said yes. World Liberty Financial issues stablecoins. And the White House says nothing.
Frequently Asked Questions
What can World Liberty Financial do with this partial OCC license?
The company can issue dollar-pegged stablecoins, but it cannot grant loans or accept direct deposits — rights reserved for holders of full banking licenses.
Why is the license granted to World Liberty Financial politically sensitive?
Donald Trump has declared earning more than $1.16 billion through cryptocurrencies, and his administration enacted the Genius Act regulating this sector — creating an apparent conflict of interest that Democrats want to address with an ethics clause.
Which companies have failed to obtain a similar license?
Wise and Bunq, two established players in European fintech, have not succeeded in obtaining this type of partial license from the OCC.
