Sheikh Tahnoon bin Zayed Takes Major Stake in Trump Linked Crypto Bank Project

World Liberty Financial, the crypto project linked to Donald Trump, has moved a step closer to launching a national trust bank after receiving preliminary and conditional approval from the US Office of the Comptroller of the Currency (OCC). Reports say an entity linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser, together with co investors, holds 49 percent of WLTC Holdings, the proposed bank's holding company, the largest stake in its ownership structure. According to the Wall Street Journal, Sheikh Tahnoon backed a 500 million dollar investment in World Liberty Financial last year in exchange for a 49 percent stake in the company. The proposed bank would handle issuance, redemption and custody of the USD1 dollar stablecoin, though final approval to operate has not yet been granted.