Sheikh Tahnoon reportedly controls 49% stake in World Liberty bank holding firm

World Liberty Financial’s proposed US trust bank has drawn a major Abu Dhabi backer, with Sheikh Tahnoon bin Zayed Al Nahyan and co-investors reportedly controlling 49% of the holding company behind the federally chartered venture. Summary Sheikh Tahnoon’s group reportedly backs StringZ Holding, which owns 49% of the holding company behind World Liberty’s proposed US trust bank. A Trump family affiliated entity reportedly owns another 38% of WLTC Holdings. The OCC granted preliminary conditional approval to World Liberty Trust Company on Aug. 14, with final authorization still required before operations can begin. The proposed bank would handle issuance, redemption and custody of World Liberty’s USD1 stablecoin. Tahnoon previously backed a $500 million deal for a 49% stake in World Liberty Financial. The Wall Street Journal reported on Aug. 27, citing people familiar with the matter, that Tahnoon’s group is behind StringZ Holding RSC, which owns 49% of WLTC Holdings, the company formed around World Liberty Trust Company. An entity affiliated with US President Donald Trump’s family owns another 38%, one person familiar with the structure told the newspaper. The reported ownership co...