Trump Media & Technology Group (TMTG) has filed a trademark for its potential cryptocurrency trading and payment platform, “TruthFi.”
Highlighted by Gerben Intellectual Property’s Josh Gerben, the Nov. 18 filing with the United States Patent and Trademark Office (USPTO) seeks the trademark “TruthFi.”
The filing describes plans for both downloadable and online software to serve as a “digital wallet” and support “cryptocurrency payment processing” alongside “trading in digital assets.”
It also highlights features for “analyzing and compiling data for measuring the performance of financial markets” and providing “financial custody services” to manage and safeguard assets.
Additionally, it mentions tools for “analysis of market research data and statistics” to support financial research.
Based on information from the USPTO website, the registration of the trademark could take at least 12-18 months, with the possibility of delays.
Details of the platform can be expected once the registration is completed.
TMTG is a media and technology company headquartered in Sarasota, Florida, which operates the social media platform Truth Social.
Donald Trump holds a 53% stake in TMTG, which has yet to make any official announcements regarding a cryptocurrency platform.
Trump’s foray into the crypto space
TMTG’s broader interest in cryptocurrency became apparent when the Financial Times reported on Nov. 18 that the company is in advanced talks to acquire the crypto exchange Bakkt.
Bakkt is owned by Intercontinental Exchange, and a potential deal would involve an all-share purchase.
If completed, this acquisition could bolster TMTG’s position in the crypto space, which has increasingly become a part of Trump’s presidency.
The reports follow the Trump family’s earlier venture into decentralized finance with the launch of World Liberty Financial on Sept. 16.
The platform aims to democratize access to financial assets and promote the global dominance of the US dollar by allowing users to save and borrow in dollar-based stablecoins, including USDT and USDC.
It also plans to issue a proprietary stablecoin for transactions within its ecosystem alongside the WLFI token, which will power governance by allowing holders to vote on protocol-related decisions.
However, the token launch of WLFI fell short of expectations.
Initially targeting the sale of 18.92 billion tokens worth $300 million, the goal was reduced to 2 billion tokens worth $30 million, which also failed to meet its target.
Trump has also ventured into the non-fungible token market and has been associated both directly and indirectly with several collections over the past years.
The pro-crypto president
Trump’s foray into the crypto space follows his promise of making the United States the crypto capital of the world, with a strategic Bitcoin Reserve and pro-crypto policies at the center of these plans.
Regulatory shifts appear to support Trump’s pro-crypto agenda as several anti-crypto figures prepare to leave office.
For instance, Securities and Exchange Commission Chair Gary Gensler has announced his resignation effective Jan. 20, coinciding with Trump’s inauguration.
Similarly, Federal Deposit Insurance Corporation Chair Marty Gruenberg said he will step down on Jan. 19.
The post Trump Media files trademark for crypto payments platform ‘TruthFi’ appeared first on Invezz
