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HomeCrypto NewsMarketTrump Memecoin Becomes Payment Option for Branded Stores

Trump Memecoin Becomes Payment Option for Branded Stores

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Trump-branded merchandise websites have begun accepting the official Donald Trump meme coin (TRUMP) as a payment option, adding real-world utility to the crypto asset.

Specifically, GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com, which license former President Donald Trump’s brand, now allow customers to complete purchases using Trump.

Alongside traditional payment methods such as credit cards and Bitcoin, the addition of Trump provides an alternative payment option for supporters.

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Trump Meme Coin Gains More Use Cases

Notably, the move addresses concerns regarding the meme coin’s primary use beyond speculation. Besides, TRUMP’s adoption aligns with broader efforts to encourage crypto transactions for online purchases.

Notably, stablecoins, which maintain value pegged to traditional currencies, have seen increased payment use. However, crypto assets with fluctuating prices, such as Trump, have struggled to gain traction as a reliable payment method.

The TRUMP meme coin launched on the Solana blockchain has around 700,000 holders. Customers purchasing from Trump-affiliated online stores can complete transactions using the “Solana Pay” option. 

Beyond retail, Travala.com, a blockchain-based travel booking service, recently added TRUMP to its payment options. Specifically, it allows users to book hotels, flights, and activities worldwide with the TRUMP meme coin. The platform supports over 100 cryptocurrencies and facilitates digital currency transactions for travel bookings.

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Financial Implications and Political Concerns

It is important to note that the meme coin’s adoption could generate substantial revenue for Trump-affiliated entities, raising questions about financial and ethical considerations.

Bloomberg reported that trading activity surrounding Trump has likely generated at least $11.4 million in fees for entities linked to the former president since its launch.

Furthermore, most of the coin supply remains allocated to Trump-associated entities, which will receive additional tokens over time as they unlock.

The growing use of the meme coin also brings attention to potential regulatory challenges. With Trump’s administration looking to reshape digital asset regulations, concerns have emerged over potential conflicts of interest.

Calls to Redirect Profits from TRUMP to Charity

Massachusetts Republican John Deaton, a known crypto advocate, has expressed concerns about the TRUMP meme coin. Deaton pointed out that 80% of the token’s holdings remain with insiders, warning of potential financial risks for retail investors.

Meanwhile, Deaton suggested a compromise, recommending that profits from TRUMP be directed toward hurricane and wildfire relief efforts.

While it remains unclear whether the proposal will be adopted, discussions continue regarding the ethical and financial implications of a political figure’s direct involvement in a cryptocurrency initiative.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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