2024-08-23 19:53:05
Investing.com – The Trump family is ready to challenge the traditional financial system with its new project in decentralized finance (DeFi).
US presidential candidate Donald Trump announced his children’s new decentralized projects, called “The Defiant Ones”, via social media. The former president encouraged major financial institutions with the statement that the new family company would compete directly with them. Eric Trump and Donald Trump Jr have been publicizing their crypto projects recently, claiming they will have a significant impact on big banks.
READ MORE: What are cryptocurrencies, how do they work and types
Eric Trump recently gave an exclusive interview to the New York Post, in which he mentioned that, despite avoiding specific details, the project would be related to the digital real estate sector and would be accessible to everyone.
After Donald Trump’s post, Eric offered more details, boldly saying that the project will revolutionize the traditional financial system and make it easier for Americans to access the credit system. According to Eric, the banking sector is not yet prepared for the innovations proposed by the project.
The segment referred to as digital real estate is the tokenization of real-world assets (RWA) within the cryptocurrency sector. Currently, about 6.5 billion dollars are locked up in the RWA sector, which has gained notoriety especially after the entry of major financial players like BlackRock (NYSE:).
Donald Trump has made promises to support the cryptocurrency sector in the United States if he wins the presidential election. He made an impact, especially with his remarks at last month’s conference, where he talked about creating a Bitcoin reserve and pledging not to sell government-held crypto assets.
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