A group led by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser, backs a 49% stake in StringZ Holding RSC, the holding company behind World Liberty Financial. An entity affiliated with US President Donald Trump’s family owns an additional 38% of WLTC Holdings, according to sources cited by the Wall Street Journal. The Office of the Comptroller of the Currency granted preliminary conditional approval to the World Liberty Trust Company on August 14. The planned trust bank would bring the issuance, redemption and custody of World Liberty’s USD1 stablecoin under federally supervised operations. Tahnoon previously backed a $500 million purchase of a 49% stake in World Liberty Financial, prompting Democratic senators to call for hearings into the transaction.
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