TLDR
- Sheikh Tahnoon bin Zayed Al Nahyan’s group reportedly holds a 49% stake in WLTC Holdings, the company behind World Liberty Financial’s planned US trust bank
- A Trump family-affiliated entity holds another 38% of WLTC Holdings
- The Office of the Comptroller of the Currency gave World Liberty Trust Company preliminary conditional approval on Aug. 14
- The bank would handle issuance, redemption, and custody of the USD1 stablecoin, currently a $4 billion market cap coin
- Democratic lawmakers have called for hearings over potential conflicts of interest in the deal
The UAE’s national security adviser, Sheikh Tahnoon bin Zayed Al Nahyan, and his co-investors reportedly hold the largest stake in the holding company behind World Liberty Financial’s proposed US trust bank, according to the Wall Street Journal.
Abu Dhabi Sheikh Tahnoon and Co-Investors Hold 49% Stake in World Liberty’s New Bank Holding Company
Sheikh Tahnoon bin Zayed al Nahyan, the UAE’s national security adviser, and co-investors hold a 49% stake in WLTC Holdings, the holding company for World Liberty Financial’s… pic.twitter.com/jZWVPbucVi
— Wu Blockchain (@WuBlockchain) August 27, 2026
The sheikh’s group operates through an entity called StringZ Holding RSC, which owns 49% of WLTC Holdings. A Trump family-affiliated entity holds another 38%.
The planned bank is tied to World Liberty Financial, a crypto venture connected to President Donald Trump’s family. The bank would bring the issuance, redemption, and custody of the USD1 stablecoin under a federally supervised structure.
USD1 currently has a market cap of around $4 billion, making it the fourth-largest stablecoin behind Tether and USDC.
OCC Grants Preliminary Approval
The Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval on August 14, 2026. The OCC’s published decision confirms StringZ is an investor but does not name Tahnoon or disclose the stake size.
The bank cannot begin operating until it meets all of the OCC’s pre-opening requirements and receives final approval.
Sheikh Tahnoon is also chairman of AI company G42. The US authorized exports of advanced AI chips to G42 in November 2025, following a broader US-UAE AI cooperation agreement.
Earlier this year, the WSJ reported that Tahnoon’s investment vehicle secretly acquired a 49% stake in World Liberty Financial for $500 million, just days before Trump’s inauguration.
Congressional Scrutiny
Democratic senators have urged Republican leadership to hold hearings on the transaction and whether it shaped US policy toward the UAE.
In February 2026, Representative Ro Khanna launched an investigation into UAE royal family money flowing to World Liberty Financial.
The White House pushed back on conflict of interest concerns. Principal Deputy Press Secretary Anna Kelly said there were “no conflicts of interest” and that “President Trump only acts in the best interests of the American public.”
The OCC’s conditional approval means the trust bank still faces several requirements before it can open its doors.
The deal remains under scrutiny from both congressional Democrats and the press as the crypto banking venture moves through the federal approval process.
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