Tahnoon Backs UAE Stake in US-Focused Crypto Bank Venture
Sheikh Tahnoon bin Zayed Al Nahyan and his co-investors control a 49% stake in World Liberty bank's holding firm, WLTC Holdings. This stake is held through StringZ Holding, which acquired its ownership interest at the same time as a Trump family-affiliated entity took on 38% of WLTC Holdings.
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to World Liberty Trust Company, a national trust bank, on August 14. Final authorization is still required before operations can begin.
World Liberty Financial's proposed US trust bank would handle issuance and redemption of its USD1 stablecoin, manage reserves backing the token, and provide digital asset custody services. The OCC requires WLTC Holdings' shareholders to sign commitments limiting their influence on management or control of the bank.