According to reports, the Trump Organization—the holding company of former US President Donald Trump’s business ventures—would be moving on to present a new cryptocurrency initiative. In an interview, Eric Trump, the son of the ex-president and executive vice president of the organization, revealed that the new venture would deal with “digital real estate” and one would be capable of lending or borrowing money over the platform.

The announcement comes at a time when the Trump family has been vocal about their enthusiasm for cryptocurrency on social media. Eric Trump took to X, formerly Twitter, recently to express his excitement toward DeFi, stating, “I have fallen in love with Crypto / DeFi. Stay tuned for a big announcement.”

I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr

— Eric Trump (@EricTrump) August 6, 2024

Disrupting Traditional Banking

According to Eric Trump, this new cryptocurrency initiative may be the game-changer in the sectors of banking and finance, bringing financial independence to people who cannot access traditional services. He said that there were a lot of problems and inequities in the current system, so he would like to see a model wherein loan approval decisions would be driven algorithmically and not policy-driven.

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Author: Christian Encila

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