Donald Trump’s social media venture, Trump Media & Technology Group (TMTG), has unveiled plans to expand into cryptocurrency and fintech services through a new brand dubbed Truth.Fi.

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.

Trump Media and Technology Group Corp., operator of the social media platform Truth Social, announced the launch of a financial services and fintech brand called Truth.Fi. Your complimentary guest account includes access to a limited number of articles.

Trump Media & Technology Group (NASDAQ:DJT), the company behind Truth Social, is expanding into financial services with the launch of Truth.Fi, a fintech arm that aims to develop investment vehicles

Trump Media says the president's company will expand into various investment products and areas of unregulated "decentralized finance," it announced Wednesday.

Trump Media & Technology Group's share value surged following the announcement it's expanding into financial services.

Trump Media and Technology Group Corp. said it will start a financial-services brand called Truth.Fi — the latest move by a Donald Trump-linked business to push into finance during his presidency.