- Trump Media has filed a patent focusing on a crypto wallet and trading platform
- The filing also reveals the firm’s intentions to venture into payment processing
- Trump Media wants to venture into the new frontier using the “TruthFi” trademark
Trump Media, a social media company owned by President-elect Donald Trump, has disclosed plans to create a crypto wallet and trading platform. The company has filed a patent outlining its intentions including providing payment processing solutions under the “TruthFi” trademark. The patent also hints at offering crypto custody services and market analysis, indicating Trump’s intentions to venture deeper into the cryptocurrency world.
There’s No guarantee the Trademark Will Register
According to the filing, Trump Media wants to create “downloadable computer software for use as a digital wallet.” It also describes offerings like “computing data for measuring the performance of financial markets.”
The patent also covers the company’s intentions to process credit card and cash payments and offer “temporary use of on-line non-downloadable” crypto wallet. The United States patent office can take up to 18 months to register the trademark, meaning that Trump Media has to wait up to 2026 to know the fate of the “TruthFi” trademark.
According to the trademark office, “there’s no guarantee [a] trademark will ever register, as it may be refused for various legal reasons.” If Trump secures the trademark, it will add to the number of his crypto-focused companies.
Trump Also Exploring Web3
In October, Trump-linked DeFi protocol World Liberty Financial launched a native token. Three days ago, reports emerged that Trump Media is in advanced discussions to acquire Bakkt, a crypto trading platform.
Apart from creating DeFi products, Trump has also ventured into the NFT world and has released several collections. He launched his fourth NFT collection “America First” in August.
With Trump increasing his involvement in the crypto and web3 scenes, it’s to be seen whether he’ll continue the push after officially assuming office in January 2025.
