Trump Media and Technology Group will introduce a blockchain-based DJT token and distribute it to shareholders on a one-for-one basis, Cointelegraph reported on Dec. 31.
The token, developed in cooperation with Crypto.com, will provide certain benefits to shareholders but will not replace actual shares or rights.
DJT token holders can receive discounts on the Truth Social media platform, the Truth+ media streaming service and the Truth Predict prediction market. It is not tokenised stock and carries no shareholder rights or claims on company profits.
Robinhood earlier introduced tokenised stock trading in the European Union and offered tokens tied to SpaceX and OpenAI private shares, but OpenAI has said the tokens do not represent an equity stake in the company.
John Murillo, chief business officer at B2Broker, said token holders have no direct claims on company assets, voting rights or access to internal financial information.
Chi-gyu Hwang
delight@d-today.co.kr