- UAE investors reportedly hold 49% of the bank parent, while a Trump family affiliate owns 38%.
- The OCC granted preliminary conditional approval, but the proposed bank still needs final clearance.
- Democrats question foreign ties, while the White House and company deny conflicts of interest.
World Liberty Financial faces renewed scrutiny over reported UAE backing for its proposed crypto bank. Sheikh Tahnoon bin Zayed al Nahyan and co-investors hold 49% of its parent, the Wall Street Journal reported.
The report identifies StringZ Holding RSC as the investor in WLTC Holdings. A Trump family affiliate reportedly owns another 38%. World Liberty Trust Company still needs final regulatory clearance.
World Liberty Financial Ownership Raises Questions
Tahnoon serves as UAE national security adviser and is the brother of its president. His group invested $500 million in World Liberty Financial in January 2025, receiving a separate 49% stake. The earlier transaction directed $263 million to Trump family entities, according to the presidential financial disclosure cited in reports.
Democratic lawmakers question potential conflicts between those financial ties and U.S. decisions involving advanced AI chip exports. Representative Ro Khanna opened an inquiry into World Liberty Financial in February. Senate Democrats have also sought hearings.
Reports link the scrutiny to G42, the UAE AI company Tahnoon controls. The Trump administration approved chip sales to G42 and later eased export controls. Those policy decisions do not, by themselves, establish an exchange of favors.
World Liberty Financial Bank Awaits Final OCC Approval
The Office of the Comptroller of the Currency granted preliminary conditional approval on August 14. Its decision requires the proposed bank to meet all opening conditions before receiving final authorization. The planned bank would serve institutional customers nationwide and operate from Bay Harbor Islands, Florida.
World Liberty Financial plans to expand USD1 stablecoin services through the national trust bank. Proposed activities include issuance, redemption, reserve management, digital asset custody and conversion services for custody clients. USD1 had a reported market value near $4 billion when the ownership details emerged.
The OCC document confirms StringZ signed commitments limiting its influence over bank management. It does not publicly identify Tahnoon as the investor behind StringZ or disclose the reported ownership percentage.
World Liberty Financial spokesman David Wachsman says the trust company has separate governance and receives no special treatment. White House spokeswoman Anna Kelly also denied conflicts of interest involving President Donald Trump.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
