Trump Media and Technology Group, the company behind Truth Social and backed by US President Donald Trump, is preparing to deepen its involvement in the crypto space.
On April 29, Trump Media CEO Devin Nunes revealed that the firm is considering working on a utility token and a digital wallet to support transactions within its video streaming platform, Truth+.
According to him, the utility token would be a payment method for Truth+ subscriptions, and its use may extend to other services within the broader Truth ecosystem over time.
Nunes explained that the token would operate within a Truth-branded digital wallet, allowing users to manage payments seamlessly across the company’s digital products.
This move is part of Trump Media’s broader strategy to create a self-contained, blockchain-integrated platform.
Truth.Fi
Alongside the crypto wallet and token, Trump Media is also building a financial services arm called Truth.Fi.
The new venture will focus on fintech solutions that reflect conservative values and aim to serve millions of like-minded investors across the US and beyond.
Nunes wrote:
“By expanding into this realm, we aim to serve millions of investors in America and around the world who believe in the greatness of the American economy and want to invest in superior companies while avoiding the giant, woke investment funds and politically motivated debanking problems.”
As part of its initial rollout, Truth.Fi plans to offer customized separately managed accounts (SMAs) and exchange-traded funds (ETFs). Both products will follow an America-First investment approach, combining exposure to both traditional equities and digital assets.
Nunes stated that the firm has partnered with Index Technologies Group and Yorkville America Equities to build the SMA products.
On the other hand, Crypto.com and Yorkville America Digital will support the development of the ETF products. All these financial tools are expected to debut by the end of the year.
Meanwhile, the firm is ready to invest up to $250 million of its cash reserves into these fintech ventures. This investment will also include direct holdings in Bitcoin and similar crypto-focused assets, which will be held under the custody of Charles Schwab.
The post Trump Media pivots to crypto with planned TruthPlus token, DeFi platform and digital wallet appeared first on CryptoSlate.
