Sheikh Tahnoon bin Zayed al Nahyan, the United Arab Emirates' national security advisor and brother of its president, along with his co-investors, is behind an entity that owns 49% of the holding company for World Liberty Financial’s planned bank, according to The Wall Street Journal as reported by CNBC. This entity, StringZ Holding RSC, holds the largest stake in WLTC Holdings, the bank's holding company, while an entity affiliated with the Trump family owns an additional 38% [1].
Tahnoon and other investors previously invested $500 million in World Liberty Financial in January 2025, coinciding with the start of Donald Trump's second presidential term. Of this investment, $263 million was directed to Trump family entities, as disclosed in Trump's 2025 annual financial report [1]. The venture has received preliminary conditional approval from the Office of the Comptroller of the Currency this month to establish a federally chartered national trust bank. The proposed bank would issue, redeem, and safeguard USD1, World Liberty's dollar-backed stablecoin, but must meet further conditions before commencing operations [1].
The deal has attracted scrutiny due to Tahnoon's status as a foreign government official and the Trump administration's ongoing negotiations with the UAE over access to advanced U.S. artificial-intelligence chips. The administration recently approved chip sales to G42, a state-backed AI company controlled by Tahnoon, and eased restrictions on the volume of chips it could purchase last month [1].
World Liberty spokesman David Wachsman emphasized that the company is a private American financial technology firm, not a political organization, and that its trust company has separate governance. He stated, "No one at World Liberty works for the U.S. government and there are no conflicts of interest," adding that the company does not seek or receive special treatment. However, he did not address the reported ownership structure [1].
Trump's businesses have benefited from several foreign deals since his return to office, generating at least $59.5 million in foreign licensing revenue during the first year of his second term, according to previous CNBC reporting [1].
CONCLUSION
The significant investment by UAE's Sheikh Tahnoon in the Trump family's planned crypto bank highlights deepening financial ties between the Trump business empire and foreign entities. The venture's conditional approval and the involvement of a high-profile foreign official have raised questions about potential conflicts of interest, though World Liberty maintains its independence and compliance. Market attention is likely to remain high as the bank moves toward full regulatory approval.