We present the discovery of PSO J191.05696+86.43172 (hereafter PSO J191+86), a new powerful radio-loud quasar (QSO) in the early Universe (z = 5.32). We discovered it by cross-matching the NRAO VLA Sky Survey (NVSS) radio catalog at 1.4 GHz with the first data release of the Panoramic Survey Telescope and Rapid Response System (Pan-STARRS PS1) in the optical. With a NVSS flux density of 74.2 mJy, PSO J191+86 is one of the brightest radio QSO discovered at z∼5. The intensity of its radio emission is also confirmed by the very high value of radio loudness (R>300). The observed radio spectrum of PSO J191+86 shows a possible turnover around ∼1 GHz (i.e., ∼6 GHz in the rest frame), making it a Gigahertz-Peaked Spectrum (GPS) source. However, variability could affect the real shape of the radio spectrum, because the data in hand were taken ∼25 years apart. By assuming a peak in the observed radio spectrum between 1 and 2 GHz (i.e., ∼ 6 and 13 GHz in the rest-frame) we find a linear size of the source of ∼10-30 pc and a corresponding kinetic age of 150-460 yr. This would make PSO J191+86 a newly born radio source. However, the large X-ray luminosity (5.3×10 45 erg s −1 ), the flat X-ray photon index (Γ X =1.32), and the optical-X-ray spectral index ( αox =1.329) are typical of blazars. This could indicate that the nonthermal emission of PSO J191+86 is Doppler boosted. Further radio observations (both on arcsec and parsec scales) are necessary to better investigate the nature of this powerful radio QSO.