StringZ Holding RSC owns a 49% stake in WLTC Holdings, the holding company for World Liberty Financial's proposed U.S. crypto bank. Sheikh Tahnoon bin Zayed Al Nahyan and his co-investors are behind StringZ Holding RSC. An entity affiliated with the Trump family owns a 38% stake in WLTC Holdings.

Sheikh Tahnoon bin Zayed Al Nahyan serves as the United Arab Emirates' national security advisor and is the brother of the President of the United Arab Emirates. He chairs the AI firm G42 and oversees an empire funded by his personal fortune and state money worth more than $1.3 trillion. The Trump administration eased U.S. export restrictions for the UAE last month, allowing firms including G42 easier access to advanced computing equipment such as AI chips and servers.

Sheikh Tahnoon bin Zayed Al Nahyan and other investors invested $500 million in World Liberty Financial in January 2025. The January 2025 investment agreement was signed four days before Donald Trump's inauguration. The January 2025 investment deal directed $263 million to Trump family entities.

A person familiar with the investment that the investment was never discussed with Donald Trump. The White House denies any conflict of interest regarding the investment.

In March 2025, Donald Trump created the U.S. Strategic Bitcoin Reserve by executive order. MGX, chaired by Sheikh Tahnoon, used World Liberty's USD1 stablecoin to complete a $2 billion investment in Binance in 2025. Donald Trump pardoned Binance founder Changpeng Zhao in 2025. Lawyers for Binance and Zhao stated that any suggestion connecting the MGX investment or USD1 usage to Zhao's pardon request is without foundation.

Binance paid $4.3 billion in 2023 to settle U.S. anti-money-laundering and other violations. Binance founder Zhao pleaded guilty to U.S. charges in 2023. Zhao served prison time following his guilty plea.

USD1 has grown to approximately $4 billion in market capitalization. USD1 reserves generate an estimated $150 million annually in interest. The Trump family receives a share of net proceeds when World Liberty Financial sells tokens, as well as a cut of stablecoin profits.

By December 2025, the Trumps had profited $1 billion on proceeds from World Liberty Financial, while holding $3 billion worth of unsold tokens. Trump's businesses generated at least $59.5 million in foreign licensing revenue during the first year of his second term.

Why It Matters

The approval establishes a federally chartered institution tied to a stablecoin with market presence and generates interest income for its stakeholders. The ownership structure links the venture to both the Trump family and major Emirati investors, including the UAE national security advisor. The intersection of private financial interests and public policy is a subject of discussion.

The timing of investments relative to the presidential inauguration and subsequent policy actions, including the creation of a Strategic Bitcoin Reserve and the easing of export controls, places the approval within a broader context of regulatory and diplomatic developments. Multiple parties have denied conflicts of interest.

Timeline

In 2025, MGX, chaired by Sheikh Tahnoon, used World Liberty's USD1 stablecoin to complete a $2 billion investment in Binance. In 2025, Donald Trump pardoned Binance founder Zhao.

What's New

The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Financial to establish a federally chartered national trust bank in August 2026. The proposed bank would issue, redeem, and safeguard USD1, World Liberty Financial's dollar-backed stablecoin. World Liberty spokesman David Wachsman stated, "No one at World Liberty works for the U.S. government and there are no conflicts of interest." He described World Liberty as "a private American financial technology company, not a political organization." He said World Liberty's trust company has separate governance. He stated that World Liberty neither seeks nor receives special treatment.

How Sources Differ

Regarding the world liberty corporate structure, David Wachsman described World Liberty as "a private American financial technology company, not a political organization."