Eric Trump, President of The Trump Organization, has described cryptocurrency and decentralized finance as “digital real estate” and potentially powerful accelerators for the US economy, according to The Post.
Trump Jr. noted that more than half of the country’s residents are unbanked and face credit denial. Cryptocurrencies, in this sense, provide accessible collateral with instant access “based on mathematics, not politics.”
“I don’t know if people understand what a shock this is to the world of banking and finance. I hope we can help change that,” he stated.
Trump Jr. added that over the past three decades, the financial sector has become mired in bureaucracy and needs significant changes to keep the economy afloat.
“My family has certainly experienced its share of financial discrimination. I have a unique perspective on how easily people can be kept out of certain markets. It slows everything down. It’s wrong,” the businessman warned.
In the coming weeks, the Trump Organization plans to announce a major initiative related to cryptocurrency. Specifically, Eric Trump mentioned the readiness to incorporate them into the family company’s portfolio.
The publication emphasized that the details of the announcement remain a closely guarded secret and a source of speculation. The businessman promised to reveal details “as soon as everything is ready for implementation.”
“I think at some point we all want to achieve financial independence and live in a world where we don’t have to play by the rules of a big bank. That day is coming soon,” he concluded.
Earlier, Donald Trump’s sons announced a project in the DeFi segment. Later, they clarified that it would be a platform to “displace” banks.