TMTG announced its expansion into financial services and fintech amidst a backdrop of an administration favoring cryptocurency and digital financial technology innovation

Trump Media and Technology Group, the parent company of Truth Social, announced a plan to expand into financial services — including customized investment vehicles geared toward conservatives. Why it matters: Shares in TMTG,

Trump Media and Technology Group (TMTG) has announced the launch of its financial services and FinTech brand, Truth.Fi.

President Donald Trump's media and technology group (TMTG) is announcing a partnership with financial services giant Charles Schwab to further venture into the world of decentralized finance (DeFi).

Trump Media launches Truth.Fi, planning a $250M investment in fintech, ETFs, and Bitcoin as it expands into financial services.

The investment strategy of Truth.Fi will be guided by financial services firm Charles Schwab, which will oversee asset custody and provide advisory services. While Schwab does not currently facilitate direct trading in cryptocurrencies like bitcoin, it has indicated it would explore the space if regulatory conditions allow.

Trump Media, the parent of Truth Social, said in a press release that its board approved an investment of up to $250 million to be custodied by Charles Schwab.

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 11% in early trading.

Trump Media launches Truth.Fi, a fintech platform for traditional and crypto investments, pending regulatory approvals.

This story incorporates reporting from Business Insider, Yahoo Finance, Finbold | Finance in Bold and Bloomberg L.P..Trump Media & Technology Group (TMTG) has announced its entry into the financial technology sector with the launch of a new brand,