As rumors circulate about the Trump Organization’s new crypto initiative, the company’s president Eric Trump hints it will involve “digital real estate.” The Trump Organization, a leading real estate business led by the family of former President Donald Trump, is reportedly preparing to enter the crypto space.

In an Aug. 14 interview, Eric Trump, the executive vice president of the Trump Organization, provided insight into the upcoming project, indicating that it will focus on “digital real estate.” While he did not specify whether this would involve non-fungible tokens (NFTs), tokenized real-world assets, or another type of digital property, he suggested it could introduce a new form of “collateral” that “anyone can get access to and do so instantly.”

“I don’t know if people realize what a shake up that is for the world of banking and finance. I hope we can help change that.” – Eric Trump

He further highlighted the potential social impact of the initiative, noting that “over half” of the U.S. population “cannot be banked.” According to Eric Trump, the technology behind this new venture could enable individuals to be “almost instantaneously” approved or denied for loans based on mathematical assessments, rather than traditional banking policies.

In early August, Donald Trump Jr. mentioned that the crypto market should be ready for an announcement that will “shake up” the ecosystem. Meanwhile, Eric Trump shared in a separate post that he had “truly fallen in love with crypto/DeFi” and that a significant development was on the horizon.

Adding to the speculation, real estate mogul and Trump ally Steve Witkoff praised the potential of crypto and decentralized finance. The crypto community has been buzzing with theories that the Trump Organization might be planning a project related to RWA (Real World Assets), possibly allowing investors to purchase tokenized shares of Trump’s real estate holdings. However, the company has yet to make any official statements confirming these rumors.

Stay tuned to Global Crypto News for more updates on this developing story and other significant crypto news.

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