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Trump Media and Technology Group (TMTG) is deepening its presence in decentralized finance (DeFi) through a new partnership with Charles Schwab. The collaboration aims to introduce Truth.Fi, a fintech firm offering crypto investment services.
TMTG, known for Truth Social and the streaming platform Truth+, is now venturing into financial services. The company’s board approved a $250 million investment to be managed by Charles Schwab. According to the press release, these funds may be allocated to exchange-traded funds (ETFs), separately managed accounts (SMAs), Bitcoin (BTC), and other digital assets.
David Nunez, CEO and chairman of TMTG, described the initiative as a logical step in the company’s growth: “Truth.Fi is a natural expansion of the Truth Social movement. We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance.”
Nunez emphasized that the platform aims to protect users from censorship, debanking, and privacy concerns associated with big tech.
Trump has made a strong case for financial inclusion, and last year he established World Liberty Financial (WLFI) to help people who aren’t served by traditional banks. With $33 million worth of staked Ethereum (stETH), WLFI recently rose to the top 0.1% of holders, demonstrating its significant presence in the cryptocurrency market.
With its most recent action, TMTG is expanding its ecosystem to include financial tools in addition to its technology and media platforms. An important step towards incorporating DeFi into popular investment options is the collaboration with Charles Schwab.