"The Trump family is known for real estate investment, and many people wonder why we have recently focused on digital assets. Using digital assets means traditional financial institutions cannot restrict us for political reasons, and we don't have to endure inefficiencies like transfer times or fees. Our family, including my father, U.S. President Donald Trump, has great faith in digital assets."
Eric Trump, executive vice president of the Trump Organization, attended the Upbit D Conference (UDC) held at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul, on the 9th via video and said this.
Well known as President Trump's second son, he manages the business of the Trump Organization, the family's real estate development corporation. The Trump family established a decentralized finance platform called World Liberty Financial last September. The platform aims to provide financial services such as loans without banks.
Vice President Trump said, "My father (President Trump) has behaved improperly since entering politics," but he also criticized, "Many banks in the U.S. tried to block us for political reasons." Vice President Trump explained, "Financial institutions like BankUnited tried to reject us, even attempting to cancel the family's golf course bank accounts."
In 2021, BankUnited, headquartered in Florida, New York's Signature Bank, and Germany's Deutsche Bank said they had stopped deposit transactions with then-President Trump. They did not disclose specific reasons, but there was speculation that it was related to political backgrounds such as the impeachment proceedings against then-President Trump.
Vice President Trump continued, "Currently, to send money between countries you have to do it before 5 p.m., and if you send it on Friday you receive it around Monday or Tuesday," and explained, "When using digital assets you can transfer to another person's wallet in just a few seconds." He said, "Under the current financial system you have to exchange any currency, visit the bank in person, and pay fees, which is very inefficient," and explained, "You can solve this problem by using digital assets."
Vice President Trump said, "Now is the best time to jump into digital assets," and added, "Digital assets will be introduced to the entire public soon and will grow rapidly."