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Trump Media launches FinTech services brand
(Reuters) -Truth Social parent Trump Media and Technology Group said on Wednesday its board of directors has approved the launch of a financial services and FinTech brand Truth.Fi, sending shares of the firm up over 15% in premarket trading.
The company board has also authorized an investment of up to $250 million through Charles Schwab as it looks to diversify its cash holdings, which exceeded $700 million at the close of the previous year.
The Sarasota, Florida-based company said it plans to allocate these funds into various investment options, including exchange-traded funds, separately managed accounts, Bitcoin, and other similar cryptocurrencies.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Tasim Zahid)
Exciting news! Trump Media, the media conglomerate owned by former President Donald Trump, has announced the launch of its new FinTech services brand. This move marks Trump Media’s entry into the financial technology industry, offering a range of innovative and cutting-edge services to consumers.
With a focus on providing convenient and accessible financial solutions, Trump Media’s FinTech brand aims to revolutionize the way people manage their money. From mobile banking and digital payments to investment tools and personal finance management, this new venture promises to deliver the latest advancements in financial technology to its customers.
Stay tuned for more updates on the launch of Trump Media’s FinTech services brand and how it will impact the financial industry. Get ready to experience a new era of financial innovation with Trump Media’s cutting-edge solutions! #TrumpMedia #FinTech #FinancialInnovation
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