Key Points
- An investment group led by Sheikh Tahnoon bin Zayed Al Nahyan, UAE’s national security adviser, reportedly owns 49% of WLTC Holdings, the parent company of World Liberty Financial’s proposed crypto trust bank
- Trump family-connected entities control an additional 38% stake in WLTC Holdings
- World Liberty Trust Company received preliminary conditional approval from the Office of the Comptroller of the Currency on August 14
- The proposed institution would manage the issuance, custody, and redemption operations for USD1, a stablecoin with approximately $4 billion in market capitalization
- Congressional Democrats are demanding oversight hearings regarding possible conflicts of interest
According to a Wall Street Journal report, Sheikh Tahnoon bin Zayed Al Nahyan, who serves as the United Arab Emirates’ national security adviser, and his investment partners hold the controlling interest in the parent organization of World Liberty Financial’s planned US trust bank.
Sheikh Tahnoon’s investment group functions through StringZ Holding RSC, which maintains a 49% ownership position in WLTC Holdings. Meanwhile, an entity associated with the Trump family controls an additional 38% stake.
The proposed banking institution is linked to World Liberty Financial, a cryptocurrency project associated with President Donald Trump’s family. If fully approved, the bank would centralize USD1 stablecoin operations—including issuance, redemption, and custodial services—within a federally regulated framework.
USD1 currently ranks as the fourth-largest stablecoin by market capitalization at approximately $4 billion, trailing only Tether and USDC.
Federal Regulator Issues Conditional Green Light
On August 14, 2026, the Office of the Comptroller of the Currency issued preliminary conditional approval to World Liberty Trust Company. While the OCC’s public decision document acknowledges StringZ as an investor, it does not specifically identify Tahnoon or reveal the exact ownership percentage.
The institution remains prohibited from commencing operations until it satisfies all pre-opening conditions established by the OCC and obtains final authorization.
Sheikh Tahnoon also serves as chairman of G42, an artificial intelligence firm. In November 2025, the United States authorized exports of advanced AI semiconductor technology to G42, following a comprehensive US-UAE artificial intelligence cooperation framework.
The Wall Street Journal previously disclosed that Tahnoon’s investment entity quietly secured a 49% ownership stake in World Liberty Financial for $500 million shortly before Trump’s presidential inauguration.
Legislative Oversight Intensifies
Senate Democrats have called on Republican congressional leaders to convene hearings examining the investment deal and whether it influenced American policy decisions regarding the UAE.
In February 2026, Representative Ro Khanna initiated a formal inquiry into UAE royal family capital flowing into World Liberty Financial.
White House officials have rejected suggestions of impropriety. Principal Deputy Press Secretary Anna Kelly stated there were “no conflicts of interest” and emphasized that “President Trump only acts in the best interests of the American public.”
The OCC’s conditional approval indicates the trust bank must fulfill numerous additional requirements before receiving authorization to operate.
As the cryptocurrency banking venture progresses through federal regulatory channels, the arrangement continues to face examination from Democratic lawmakers and media outlets.
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