An Abu Dhabi royal and his co-investors reportedly back the largest stake in the holding company behind World Liberty Financial’s proposed US trust bank.

Citing people familiar with the matter, the Wall Street Journal reported that Sheikh Tahnoon bin Zayed Al Nahyan’s group is behind StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with US President Donald Trump’s family owns another 38%, one person told WSJ.

If it receives final approval, the planned bank would bring the issuance, redemption and custody of World Liberty’s USD1 stablecoin under the federally supervised venture.

Tahnoon is the UAE’s national security adviser and chairman of artificial intelligence company G42. The US authorized exports of…