According to CoinMeta, the World Freedom Trust Bank ( World Liberty Trust Company ) associated with Trump received preliminary conditional approval from the US Federal Reserve ( OCC ) on August 14, planning to operate as a national trust bank organization. 49% of the bank's controlling stake is held by investors supported by Tahnoon Ben Zayed, the UAE's National Security Advisor ( Sheikh Tahnoon bin Zayed Al Nahyan ), while Trump's family's investment vehicles hold 38%. This investment originated from a $500 million deal to be completed before Trump returns to the presidency in January 2025. Although the decision from the Federal Reserve is significant, it does not constitute a final banking license; World Freedom Trust Company must meet additional requirements to open for business, including maintaining a capital of at least $20 million. If the final approval is granted, the bank will be able to issue, hold, and manage its own stablecoin ( USD1 ) under the same regulated entity.