Trump Media is increasing into monetary companies, together with funding autos, the agency introduced Wednesday.

Shares of the Reality Social father or mother firm, which commerce underneath the ticker DJT, jumped 6.8% on Wednesday. President Donald Trump not directly owns 114,750,000 shares of the corporate, held in a revocable trust.

The monetary companies division can be referred to as Reality.Fi, and it will likely be began with as much as $250 million from the corporate that can be custodied with brokerage agency Charles Schwab, in accordance with a information launch. That cash can be allotted to personalized exchange-traded funds and cryptocurrencies, amongst different funding autos.

The corporate mentioned it expects to launch services and products, together with its personal funding autos, later this yr.

“Reality.Fi is a pure enlargement of the Reality Social motion. We started by making a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re transferring into funding merchandise and decentralized finance,” Trump Media CEO and Chairman Devin Nunes mentioned within the launch.

“Growing American First funding autos is one other step towards our objective of making a sturdy ecosystem by means of which American patriots can shield themselves from the ever-present menace of cancellation, censorship, debanking, and privateness violations dedicated by Large Tech and woke companies,” added Nunes, a former congressman from California.

The discharge didn’t specify what forms of funding autos Reality.Fi would provide, however mentioned Schwab would “broadly advise” the corporate’s investments and technique. The merchandise would give attention to “American progress, manufacturing, and vitality corporations in addition to investments that strengthen the Patriot Financial system,” in accordance with the discharge.

Samantha Schwab, a granddaughter of the namesake founding father of Charles Schwab, just lately turned the deputy chief of workers on the U.S. Division of the Treasury.

The announcement comes after complaints from Republicans that banks have handled some conservatives unfairly. Throughout a distant look final week on the World Financial Discussion board in Davos, Switzerland, Trump complained to Bank of America CEO Brian Moynihan that the agency was locking out and de-banking conservatives.

“I hope you begin opening your financial institution to conservatives as a result of many conservatives complain that the banks aren’t permitting them to do enterprise inside the financial institution, and that included a spot known as Financial institution of America,” Trump mentioned.

The president additionally took on Jamie Dimon, CEO of JPMorgan Chase, the biggest U.S. financial institution by belongings.

“You and Jamie and all people, I hope you are going to open your banks to conservatives as a result of what you are doing is flawed,” Trump mentioned.

The remarks continued a simmering feud between Republicans and the nation’s largest banks, with a flashpoint coming final yr when a bunch of state attorneys basic filed a criticism alleging that the establishments have been discriminating in opposition to prospects primarily based on non secular and political affiliations. Officers on the banks have denied wrongdoing.

Complaints about de-banking are additionally widespread among the many crypto neighborhood, which was aligned with Trump throughout his presidential marketing campaign.

Reality.Fi comes on the heels of the Trump memecoin, which launched shortly earlier than the inauguration and resulted in on-paper beneficial properties of billions of {dollars} for the Trump Group and its associates.

The brand new monetary companies agency might find yourself being a competitor to Elon Musk‘s X, which announced a deal with Visa on Tuesday as a part of its push to increase past social media. Musk is an in depth advisor to President Trump.