The U.S. Office of the Comptroller of the Currency has granted preliminary conditional approval for World Liberty Trust Company, N.A. (WLTC), a proposed national trust bank that plans to take over issuance, redemption, and reserve management for the USD1 stablecoin. Attention then shifted from the bank’s planned business lines to its ownership structure. On Aug. 27, The Wall Street Journal, citing people familiar with the matter, reported that Sheikh Tahnoon bin Zayed al Nahyan and co-investors hold a 49% stake in WLTC Holdings through StringZ Holding RSC, while a Trump family-linked entity holds another 38%. OCC records do not disclose the exact percentages, but they do confirm the core structure: WLTC would be wholly owned by WLTC Holdings LLC, and StringZ Holding RSC (DE) LLC, DT Marks SC LLC, and AMGUS, LLC each submitted passive investment commitments tied to indirect interests in the proposed bank. Those commitments limit governance rights, board access, nonpublic information access, and influence over policy, while leaving economic interests intact. WLTC, if finally approved, would operate as a limited-purpose national trust bank without FDIC deposit insurance, focused on institutional USD1 services and digital asset custody rather than retail banking. The proposal also sits alongside scrutiny over Tahnoon-backed investments, Binance’s $2 billion MGX deal settled in USD1, and conflict-of-interest questions raised by U.S. lawmakers.

Sheikh Tahnoon bin Zayed al Nahyan, the United Arab Emirates national security adviser and brother of the country’s president, holds a 49% stake alongside co-investors in WLTC Holdings, the holding company created by World Liberty Financial to pursue a U.S. bank charter, according to a Thursday report from The Wall Street Journal. The paper said Tahnoon and the other investors took that position through a separate entity, StringZ Holding RSC. The report surfaced less than two weeks after the Office of the Comptroller of the Currency gave World Liberty Trust Company, National Association preliminary approval to operate as a national trust bank. In its January application, World Liberty said the entity would manage stablecoin issuance and redemption, on-ramp and off-ramp services, and custody, with BitGo staying on as a partner. The Journal also said this is the second reported 49% position tied to Tahnoon in the Trump family’s crypto business, following an earlier report that a Tahnoon-backed vehicle agreed to buy 49% of World Liberty Financial for $500 million in a deal signed four days before Trump’s January 2025 inauguration. The investment has already drawn attention on Capitol Hill, with five Senate Democrats calling for hearings in June and Representative Ro Khanna opening a House investigation in February.

A Wall Street Journal investigation says Sheikh Tahnoon bin Zayed Al Nahyan, the UAE president’s brother and the country’s national security adviser, holds an indirect 49% stake in the holding company tied to World Liberty Financial’s planned bank venture. The report centers on WLTC Holdings, the parent of World Liberty Trust Company, which was set up by World Liberty Financial to seek a National Trust Bank Charter from the U.S. Office of the Comptroller of the Currency. The application reportedly received preliminary approval several weeks ago. According to the report, Tahnoon and his investment partners hold the stake through StringZ Holding RSC. If the bank is ultimately cleared to operate, World Liberty Financial could legally run a range of financial and crypto services, including stablecoin issuance and redemption, fiat on- and off-ramps, and digital asset custody and conversion. The report also notes that WLF’s dollar stablecoin, USD1, has passed a $4 billion market capitalization, making it the world’s fourth-largest stablecoin behind Tether’s USDT and Circle’s USDC. The White House denied any conflict of interest. First deputy press secretary Anna Kelly said there was "absolutely no conflict of interest" and said President Trump’s decisions are made in the best interests of the American public. The issue has still drawn scrutiny on Capitol Hill, where Senate Democrats have called for a hearing and Representative Ro Khanna had already opened an inquiry in February into UAE royal money flowing into WLF.

The Wall Street Journal, citing people familiar with the matter, reported that a group backed by Sheikh Tahnoon bin Zayed Al Nahyan, a member of Abu Dhabi’s ruling family, stands behind StringZ Holding RSC. StringZ owns a 49% stake in WLTC Holdings, the holding company for the proposed U.S. trust bank tied to World Liberty Financial, a Trump family-linked venture. Entities connected to the Trump family reportedly hold another 38% stake in the company. The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Aug. 14. In its published decision, the OCC confirmed that StringZ is an investor in WLTC Holdings and said the firm signed a passivity commitment, meaning it agreed not to interfere in the bank’s operations. The OCC filing did not identify Tahnoon as StringZ’s backer and did not disclose his ownership share. The bank cannot begin operating until it meets the OCC’s pre-opening requirements and receives final approval. The report also said Tahnoon had previously backed a $500 million deal to acquire a 49% stake in World Liberty Financial. Democratic senators later called for a hearing and an investigation into whether the transaction affected U.S. policy toward the United Arab Emirates. Cointelegraph said it contacted the Trump Organization for comment but had not received a response by publication time.

An Abu Dhabi royal is reported to be behind the biggest stake in the holding company tied to World Liberty Financial’s proposed US trust bank, according to The Wall Street Journal. The report, citing people familiar with the matter, said Sheikh Tahnoon bin Zayed Al Nahyan’s group backs StringZ Holding RSC, which owns 49% of WLTC Holdings. Another 38% is held by an entity affiliated with US President Donald Trump’s family, one person told the Journal. If the bank wins final approval, it would place the issuance, redemption and custody of World Liberty’s USD1 stablecoin inside a federally supervised venture. The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Aug. 14, but the bank cannot begin operations until it meets pre-opening requirements and receives final approval. The OCC’s published decision names StringZ as an investor in WLTC Holdings and says it agreed not to influence the bank. It does not identify Tahnoon as the backer or disclose the size of the stake. The report also noted that Tahnoon had previously backed a $500 million purchase of 49% of World Liberty Financial, a deal that later drew calls from Democratic senators for hearings on whether it affected US policy toward the UAE.

The U.S. Office of the Comptroller of the Currency earlier this month granted conditional preliminary approval for World Liberty Financial to form a federally chartered national trust bank to issue, redeem, and custody USD1, the dollar-backed stablecoin it launched last year. On Thursday, The Wall Street Journal reported the ownership structure behind that bank: 49% of WLTC Holdings, the bank holding company, is owned by Abu Dhabi royal Sheikh Tahnoon bin Zayed al Nahyan and co-investors through StringZ Holding RSC, while Trump family-linked entities hold 38%. The arrangement mirrors an earlier investment in World Liberty itself. In January 2025, four days before Donald Trump’s inauguration, Tahnoon and co-investors invested $500 million through Aryam Investment 1 for a 49% stake in World Liberty Financial, a transaction that was not disclosed at the time and was later reported by The Wall Street Journal. Trump’s latest financial disclosure showed that $263 million of that sum went to Trump family entities. If the bank wins final approval, World Liberty would be able to directly issue USD1 and hold the reserve assets backing the stablecoin instead of relying on BitGo. World Liberty has said USD1, with a market capitalization of $4 billion, is backed by U.S. Treasurys and other cash equivalents that are estimated to generate $150 million in annual interest.

Abu Dhabi royal family member and UAE national security adviser Tahnoon bin Zayed al Nahyan, together with co-investors, holds a 49% stake in WLTC Holdings, the new bank business holding company tied to World Liberty Financial, according to a Wall Street Journal-cited report carried by BlockBeats on Aug. 28. That makes the group the largest shareholder, while entities linked to the Trump family hold about 38%. The report said the U.S. Office of the Comptroller of the Currency this month gave preliminary conditional approval for World Liberty to establish a national trust bank. The planned bank would be used to issue, redeem, and custody its stablecoin, USD1. The Wall Street Journal report also said Tahnoon invested $500 million into World Liberty through another entity last year and obtained a 49% stake. Of that amount, about $263 million went to entities related to the Trump family. The update ties together the ownership structure of the new holding company, the bank approval process, and Tahnoon’s earlier investment in the project.

Sheikh Tahnoon bin Zayed al Nahyan, the United Arab Emirates national security adviser known as the "spy sheikh," and his co-investors hold a 49% stake in the holding company of World Liberty Financial. The company is seeking a U.S. national trust bank charter, and the Office of the Comptroller of the Currency gave preliminary approval to its trust bank application several weeks ago. World Liberty Financial plans to offer stablecoin issuance and redemption, fiat on- and off-ramp services, and custody. Its USD1 stablecoin has reached a $4 billion market capitalization, ranking fourth among stablecoins mentioned in the report. The White House said there is no conflict of interest, while Donald Trump has previously faced repeated criticism over conflict-of-interest issues.