The company has filed for a patent covering several cryptocurrency products
President-elect Donald Trump’s media company, Trump Media and Technology Group (TMTG), may be venturing into the cryptocurrency space. A recent trademark application filed on November 18 hints at plans for a digital wallet, cryptocurrency payment processing, and a digital asset trading platform under the brand name “TruthFi.”
Trump Media has filed a new trademark application for:
“TruthFI”
The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer:
1. Digital wallets
2. Cryptocurrency payment processing services
3. A digital asset trading platform#Trump #TruthSocial pic.twitter.com/24J6J8xjuC
— Josh Gerben (@JoshGerben) November 21, 2024
The filing with the US Patent and Trademark Office (USPTO) outlines software designed for crypto transactions, fiat payment processing, and trading digital assets. Additionally, it includes financial services like market analysis and custody solutions for managing digital and traditional assets. Trademark attorney Josh Gerben highlighted the filing, suggesting it indicates a move toward developing a cryptocurrency platform.
While TMTG has primarily operated as the parent company of Truth Social, the filing suggests ambitions to expand its portfolio into the crypto sector. However, the timeline for such developments remains unclear. The USPTO website notes that trademark applications currently under review date back to April, and the process could take 12-18 months to complete.
Reports also indicate that TMTG is in discussions for a potential acquisition of Bakkt, a cryptocurrency exchange owned by Intercontinental Exchange. If finalized, this deal would represent another major step by Trump-associated businesses into digital finance.
This isn’t the Trump family’s first foray into blockchain technologies. Earlier, a decentralized finance platform, World Liberty Financial, launched under their backing but struggled to meet financial expectations. Additionally, Trump has previously lent his likeness to NFT collections.
The broader cryptocurrency market has surged following Trump’s election victory, with Bitcoin nearing the $100,000 mark. Trump’s campaign included promises to support crypto innovation, such as ending regulatory crackdowns and investing in Bitcoin reserves. If TMTG’s crypto plans proceed, they could align with these pro-crypto commitments and further entrench the Trump brand in the digital finance space.
