A US banking regulator on Friday conditionally approved a national trust charter for World Liberty Trust Company, a bank linked to President Donald Trump and his family's crypto venture, World Liberty Financial, Reuters reported Friday.

The charter would allow World Liberty to manage and hold customer assets and facilitate payments, but generally would not permit traditional deposit-taking or lending, Reuters reported.

The Office of the Comptroller of the Currency has granted preliminary approval, with final approval to come later, Reuters reported. Ripple and Circle have also received preliminary approval for similar charters, Reuters reported.