Compass Investments

The proposed bank will issue, redeem, and hold USD1a dollar-backed stablecoin that World Liberty launched last year. This project links World Libertys stablecoin business with the planned federally chartered trust bank.

The OCCs decision is preliminary and conditional, not a final banking license. According to the *Journal*, the approval pertains to World Liberty Financials plan to establish a national trust bank with a federal license.

The proposed banks stated functions include the issuance, redemption, and custody of USD1. Conditional approval does not constitute a final license.

According to sources familiar with the situation cited by the Journal, Sheikh Tahnoun bin Zayed Al Nahyan and his co-investors are behind the company that holds the largest stake (49% ) in the World Liberty banking holding company. Earlier, *The Wall Street Journal* reported that last year, Tahnoun backed a $500 million investment in World Liberty Financial in exchange for a 49 percent stake in the company.

This stake in the holding company means that the ownership structure of the proposed bank includes an entity affiliated with Tahnoon and his co-investors.

WLFI, a company linked to Trump, has received conditional approval from the OCC to establish a trust bank tied to the cryptocurrency USD1, with 49% of the shares owned by an entity linked to Saudi Arabia.

Sheikh Tahnoun bin Zayed Al Nahyan.

Tahnoun serves as the United Arab Emirates national security adviser and is the brother of the countrys president. According to the *Journal*, he manages a business empire valued at more than $1.3 trillion and financed by his personal fortune and government funds.

As the *Journal* notes, the new venture expands business ties between a Trump-backed cryptocurrency company and a foreign government official. World Liberty Financial is working to establish the proposed bank, whose holding company is co-owned by an entity linked to Tahnoun and his co-investors.

Exterior sign of the Office of the Comptroller of the Currency (OCC).

The OCCs preliminary conditional approval and the reported ownership structure are key elements of the proposed venture. The proposed banks role involves the issuance, redemption, and custody of USD1.

The approval remains preliminary and conditional. The proposed World Liberty Financial bank has not yet received its final charter. At this time, the stated role of the proposed bank is to issue, redeem, and hold USD1.”,”detected_source_language”:”RU