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Donald Trump's family has won preliminary approval to start a national bank, riding a wave of deregulation under the Trump administration. The Office of the Comptroller of the Currency has approved 22 bank charter applications in the first 19 months of the president's second term, with many going to fintech and digital-asset firms. The Trump family's proposed bank, World Liberty Financial, plans to expand the use of its dollar-backed stablecoin, USD1, and store the assets backing it in the bank, potentially cutting costs and adding legitimacy to the stablecoin.

For more, Norah Mulinda and Tim Stenovec speak with Paige Smith, Bloomberg News Finance Reporter