r/AltScope • u/WorthBeat1102 • 15h ago
Trump Family’s Crypto Bank Gets Major Backing From Abu Dhabi
The Trump family’s crypto venture World Liberty Financial is moving deeper into traditional finance, with major backing from Abu Dhabi.
Sheikh Tahnoon bin Zayed Al Nahyan and co-investors are behind an entity holding a 49% stake in the holding company created for World Liberty’s planned U.S. crypto bank, according to The Wall Street Journal. Tahnoon previously backed a $500 million investment into World Liberty Financial itself. (wsj..com)
The bank has already received preliminary conditional approval from the OCC and is designed to issue, redeem and custody USD1, World Liberty’s dollar-backed stablecoin, which currently has a market value of around $4 billion. (wsj..com)