Abu Dhabi Royal Backs Trump-Linked Crypto Bank Venture with Major Stake
An Abu Dhabi royal's group has taken a significant stake in World Liberty Financial's proposed US trust bank. Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and chairman of artificial intelligence company G42, backs the largest stake through StringZ Holding RSC, which owns 49% of WLTC Holdings.
An entity affiliated with the Trump family owns another 38%, according to a person familiar with the matter. The planned bank would bring the issuance, redemption, and custody of World Liberty's USD1 stablecoin under federal supervision.
The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on August 14, confirming that StringZ is an investor in WLTC Holdings and committing not to influence the bank. However, it does not identify Tahnoon as its backer or disclose his stake.