The media and technology group led by President Donald Trump, known as TMTG, has announced a new partnership with financial services giant Charles Schwab to explore decentralized finance (DeFi) opportunities.
According to a recent press release, TMTG is teaming up with Charles Schwab to establish Truth.Fi, a fintech company focusing on crypto services.
To diversify its assets, TMTG has approved a $250 million investment to be managed by Charles Schwab. This investment could be used for various financial products such as investment vehicles, ETFs, SMAs, as well as cryptocurrencies like Bitcoin (BTC) and other digital assets.
In the words of David Nunez, CEO and chairman of TMTG,
“Truth.Fi is a natural progression of the Truth Social movement. We started with a platform for free speech, added a fast TV streaming service, and are now entering the world of investments and DeFi.
Creating investment options with an American focus is part of our mission to provide a secure ecosystem for American patriots against threats like censorship and privacy violations by big tech companies…”
Last year, Trump introduced his own DeFi network – World Liberty Financial (WLFI) – aimed at assisting individuals marginalized by traditional banks.
Recently, it was revealed that WLFI has become a significant holder of staked Ethereum (stETH), staking $33 million worth of the popular altcoin.
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