Abu Dhabi Royal Backs Trump-Linked Crypto Trust Bank Venture, WSJ Reports
Key Takeaways
- •Sheikh Tahnoon bin Zayed Al Nahyan's group stands behind StringZ Holding RSC, which owns 49% of WLTC Holdings, the holding company for the proposed trust bank.
- •A Trump family-affiliated entity holds a 38% stake in WLTC Holdings.
- •The OCC granted World Liberty Trust Company preliminary conditional approval on Aug. 14, but final approval and pre-opening requirements remain before operations can begin.
- •If approved, the bank would bring issuance, redemption, and custody of World Liberty's USD1 stablecoin under federal banking supervision.
- •The OCC's published decision confirms StringZ as an investor with no-influence commitments but does not identify Tahnoon or disclose the stake size.
An Abu Dhabi royal and his co-investors reportedly stand behind the largest stake in the holding company for World Liberty Financial’s proposed US trust bank, according to the Wall Street Journal.
Citing people familiar with the matter, the WSJ reported that Sheikh Tahnoon bin Zayed Al Nahyan’s group is behind StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with US President Donald Trump’s family holds another 38%, one person told the newspaper.
If the planned bank receives final approval, it would bring the issuance, redemption and custody of World Liberty’s USD1 stablecoin under the federally supervised venture. Moving stablecoin reserves into an OCC-chartered trust bank would place those operations under federal banking supervision, a model that has gained attention in the industry as issuers seek regulated US structures following the passage of federal stablecoin legislation in 2025.
Sheikh Tahnoon serves as the UAE’s national security adviser, a position to which he was named by the UAE president, and as chairman of artificial intelligence company G42, which has attracted major international investment, including from Microsoft. He also chairs International Holding Company, Abu Dhabi’s largest listed conglomerate. The US authorized exports of advanced AI chips to G42 in November 2025, months after Washington and Abu Dhabi agreed a broader AI cooperation framework.
The Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval on Aug. 14. Its published decision confirms that StringZ is an investor in WLTC Holdings and signed commitments not to influence the bank, but it does not identify Tahnoon as its backer or disclose its stake. Such no-influence commitments are a standard OCC mechanism for insulating supervised banks from non-bank investors.
The trust bank cannot begin operating until it satisfies the OCC’s pre-opening requirements and receives final approval.
Tahnoon previously backed a $500 million purchase of 49% of World Liberty Financial. Democratic senators later called for hearings into the transaction and whether it influenced US policy toward the UAE.
Cointelegraph contacted the Trump Organization for comment but did not receive a response before publication.
Related: Report: Trump cost investors $4.7B through crypto ‘schemes’: Public Citizen
