Backed by U.S. President Trump and his family, the cryptocurrency project World Liberty Financial is expected to soon receive approval from the Office of the Comptroller of the Currency (OCC) to operate as a national trust bank. OCC official Jonathan Gould is expected to announce his final decision shortly, and two former anonymous OCC employees have revealed that the application is largely a done deal. It is reported that WLF set up a U.S. trust company in January this year and submitted the application. The granting of a federal trust bank charter would allow WLF to directly issue and redeem its USD 1 stablecoin, manage reserves, provide digital asset custody, and carry out conversion and settlement services under a single federal regulator, no longer relying on the current third-party intermediary BitGo. (TheBlock)