If the OCC approves this, USD 1 will go soaring right away, BitGo will be completely out of the picture, and the Trump family’s banking license is playing things quite big.

CryptoWorld News reports that the cryptocurrency project World Liberty Financial (WLF), supported by U.S. President Trump and his family, is expected to soon obtain 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 say the application is already close to being finalized, with only a few steps remaining. WLF established a U.S. trust company in January this year and submitted the application. Granting the federal trust bank charter will allow WLF to directly issue and redeem its USD1 stablecoin, manage reserves, and no longer rely on the current third-party intermediary BitGo.