Sheikh-Tied Group Holds 49% Stake in Trump's Crypto Bank Venture
A Sheikh-backed group holds nearly half of Trump's planned crypto bank
According to a recent report by The Wall Street Journal, an investment vehicle tied to Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan owns 49% of WLTC Holdings, the holding company behind World Liberty Trust Company (WLTC), a proposed national trust bank.
The Trump family-affiliated entity owns 38%, with President Donald Trump's financial interests in World Liberty Financial pre-dating the planned bank. The proposed bank would allow World Liberty Financial to issue, redeem and custody its USD1 stablecoin directly, potentially reducing its reliance on third-party custodians.
The ownership structure has drawn criticism from Democratic lawmakers and former government ethics officials, who argue that the Trump family's ownership raises questions about potential conflicts of interest while the institution is being reviewed. The OCC granted preliminary conditional approval in August 2026, but the bank must satisfy additional conditions before beginning banking activities.