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Investing.com- Trump Media and Technology Group Corp. (NASDAQ:DJT), known for operating the social media platform Truth Social, is expanding into financial services with a new partnership. The company has signed a binding agreement with Crypto.com and Yorkville America Digital to launch a series of exchange-traded funds (ETFs) through its FinTech brand, Truth.Fi.
The collaboration builds on a preliminary non-binding agreement from March. The ETFs, which will be offered through Crypto.com’s broker-dealer Foris Capital US LLC, are set to feature digital assets and securities with a "Made in America" focus across various industries, including energy.
The funds’ launch is contingent upon regulatory approval and is slated for later this year. They are expected to be available internationally, including in the U.S., Europe, and Asia, through existing platforms and brokerages.
Devin Nunes, CEO and Chairman of TMTG, emphasized the strategic move into financial services and digital assets, expressing confidence in the growth potential of the American economy and digital assets. Kris Marszalek, Co-Founder and CEO of Crypto.com, highlighted the partnership’s ability to leverage Crypto.com’s platform for global distribution of the Trump Media ETFs. Troy Rillo, CEO of Yorkville America Digital, also expressed enthusiasm about the upcoming product launch and its alignment with the firm’s America-First focus.
The ETFs are part of a broader financial strategy by TMTG, which includes a planned investment in Truth.Fi Separately Managed Accounts (SMAs) using up to $250 million to be custodied by Charles Schwab (NYSE:SCHW).
This news signals TMTG’s venture into the realm of financial services, aligning with its digital and patriotic branding. The partnership with Crypto.com and Yorkville America Digital represents a significant step for the company in diversifying its portfolio and tapping into the growing interest in digital assets and American industry-focused investments.
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