World Liberty Financial's proposed US trust bank has secured a significant investment from Sheikh Tahnoon bin Zayed Al Nahyan's group, which controls 49% of the holding company behind the bank. Another 38% is reportedly owned by an entity affiliated with the Trump family. The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval on August 14, but final authorization is still pending. The bank will manage issuance, redemption, and custody of World Liberty's USD1 stablecoin, which is backed by US dollars and cash equivalents. The approval process includes restrictions on shareholder influence, and the bank remains under congressional scrutiny due to foreign investment and political ties. Final approval depends on meeting OCC conditions before operations can begin.
Investors linked to Abu Dhabi's Sheikh Tahnoon bin Zayed al Nahyan reportedly own 49% of WLTC Holdings, the entity behind World Liberty Financial's planned national trust bank, which recently received conditional approval from the U.S. Office of the ...
World Liberty Financial's CEO Zach Witkoff denies allegations that the USD1 stablecoin is used to funnel funds to the Trump family, emphasizing its organic growth and utility. USD1 has over $4 billion in circulation and daily trading volumes exceedin...
World Liberty Financial, backed by the Trump family, received preliminary approval for a national bank trust charter from the Office of the Comptroller of the Currency. This approval allows the company to manage its USD1 stablecoin under federal regu...
Cryptocurrency markets rallied strongly this week, with Bitcoin climbing over 20% to nearly $80,000, driven by ETF inflows, improved liquidity, and a risk-on sentiment. Altcoins also performed well, especially Ethena (ENA) which surged over 100%, and...
