Trump-Linked Crypto Bank Wins OCC Approval as UAE Investor’s 49% Stake Draws Scrutiny

World Liberty Financial’s push into federally regulated banking has opened a new front in the debate over President Donald Trump’s crypto business interests, after details of a large investment tied to one of the United Arab Emirates’ most powerful officials returned to the spotlight.

World Liberty Trust Company received preliminary conditional approval from the Office of the Comptroller of the Currency on Aug. 14 to organize as a national trust bank. A recent report highlighted the ownership structure behind the proposed institution, including a 49% stake in its holding company held by investors backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of the country’s president.

The Trump-family-affiliated investment vehicle holds another 38%, according to recent reporting. The UAE-linked investment originated from a $500 million deal completed shortly before Trump returned to office in January 2025.

OCC Approval Moves USD1 Closer to Federal Oversight

The regulatory milestone is significant, but it is not a final bank charter.

The OCC decision grants World Liberty Trust Company conditional preliminary approval. The company must satisfy additional requirements before opening, including maintaining at least $20 million in capital, establishing appropriate management and audit functions, and meeting federal supervisory conditions.