Business & Finance
UAE official Tahnoon holds largest stake in Trump-backed crypto bank holding company, report says
StringZ Holding, linked to Sheikh Tahnoon bin Zayed al Nahyan, holds a 49% stake in the entity behind the Trump family's planned national trust bank.
The short version
- UAE National Security Advisor Sheikh Tahnoon bin Zayed al Nahyan and co-investors back StringZ Holding RSC, which owns a 49% stake in WLTC Holdings.
- WLTC Holdings is the holding company for a planned crypto bank tied to the Trump family, with a Trump-affiliated entity holding a 38% stake.
- The venture recently secured preliminary conditional approval from U.S. regulators to establish a federally chartered national trust bank.
- The investment raises ethics scrutiny due to ongoing U.S. government policy negotiations with the UAE over advanced technology sales.
Key facts
- Sheikh Tahnoon bin Zayed al Nahyan and his co-investors are behind StringZ Holding RSC, which holds a 49% stake in WLTC Holdings.[CNBC]
- An entity affiliated with the Trump family owns a 38% stake in WLTC Holdings.[CNBC]
- In January 2025, Tahnoon and other investors placed $500 million into World Liberty Financial, directing $263 million to Trump family entities according to financial disclosures.[CNBC]
- The Office of the Comptroller of the Currency granted World Liberty preliminary conditional approval to form a federally chartered national trust bank.[CNBC]
- World Liberty spokesperson David Wachsman stated the firm has separate governance, no conflicts of interest, and does not receive special government treatment.[CNBC]
What remains uncertain
- Whether the proposed bank will satisfy all required regulatory conditions to open and issue its stablecoin remains to be determined.[CNBC]