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Abu Dhabi royal backs 49% stake in Trump-linked crypto bank venture: WSJ
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An Abu Dhabi royal's investment group is reportedly backing a 49% stake in the holding company for World Liberty Financial's proposed US trust bank, marking a significant foreign financial tie to a venture linked to former President Donald Trump. According to the Wall Street Journal, Sheikh Tahnoon bin Zayed Al Nahyan's group, through StringZ Holding RSC, holds this major stake in WLTC Holdings. An entity affiliated with Trump's family owns another 38%, creating a direct connection between the former president's business interests and Gulf sovereign wealth.
The investment provides crucial capital for World Liberty Financial, which is seeking to establish a federally regulated trust bank. If the Office of the Comptroller of the Currency grants final approval following its preliminary conditional nod in August, the bank would handle the issuance, custody, and redemption of the firm's USD1 stablecoin. This would place the stablecoin's operations under formal US banking supervision.
Sheikh Tahnoon is a prominent figure, serving as the UAE's national security adviser and chairman of the AI company G42. Notably, the US authorized advanced AI chip exports to G42 in November 2025, following an AI cooperation agreement between Washington and Abu Dhabi. The OCC's public decision confirms StringZ as an investor but does not identify Tahnoon's group or its stake, though commitments were made not to influence the bank's operations.
This is not the first time Sheikh Tahnoon's interests have engaged with World Liberty Financial. He previously backed a $500 million purchase of a 49% stake in the company itself, a transaction that prompted Democratic senators to call for hearings into potential policy influence. The ongoing relationship underscores the complex interplay between international investment and domestic political figures.
The development arrives amid scrutiny of Trump's crypto activities. A recent report from the advocacy group Public Citizen alleged that Trump's crypto ventures have cost investors an estimated $4.7 billion. World Liberty Financial's ultimate success hinges on satisfying all OCC requirements and receiving its final charter, a process that will now unfold under the shadow of these significant financial and political ties.
