An Abu Dhabi investment group linked to Sheikh Tahnoon bin Zayed Al Nahyan reportedly controls a 49% stake in the holding company behind World Liberty Financial’s proposed US trust bank.
According to The Wall Street Journal, Tahnoon’s group backs StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with President Donald Trump’s family reportedly owns another 38%.
The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Aug. 14. If it receives final approval, the bank would handle the issuance, redemption and custody of World Liberty’s USD1 stablecoin under federal supervision.
The OCC has confirmed StringZ as an investor in WLTC Holdings and said it agreed not to influence the bank, but the regulator did not identify Tahnoon as its backer or disclose the size of the stake.
Tahnoon previously backed a $500 million investment for a 49% stake in World Liberty Financial, a deal that has drawn scrutiny from Democratic lawmakers over possible conflicts of interest and US-UAE policy ties.
According to The Wall Street Journal, Tahnoon’s group backs StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with President Donald Trump’s family reportedly owns another 38%.
The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Aug. 14. If it receives final approval, the bank would handle the issuance, redemption and custody of World Liberty’s USD1 stablecoin under federal supervision.
The OCC has confirmed StringZ as an investor in WLTC Holdings and said it agreed not to influence the bank, but the regulator did not identify Tahnoon as its backer or disclose the size of the stake.
Tahnoon previously backed a $500 million investment for a 49% stake in World Liberty Financial, a deal that has drawn scrutiny from Democratic lawmakers over possible conflicts of interest and US-UAE policy ties.