Official Trump (TRUMP), the payment method for websites selling Donald Trump merchandise, has been accepted by many.
Customers can use the president's official Solana-based meme coin to purchase Trump-inspired wares such as watches, perfumes and sneakers. TRUMP payments will be processed by Solana Pay is a payment framework that’s free to use and built on top of the Solana Network.
The meme coin holders can purchase merchandise with their tokens at GetTrumpWatches.com, GetTrumpFragrances.com and GetTrumpSneakers.com. It’s important to note that while the merch is official—as in, it’s been made with the president’s permission—the websites themselves are not affiliated with the President's official businesses or The Trump Organization.
It's unclear when the websites began accepting the cryptocurrency as payments. Payment options include Bitcoin, as well as traditional credit cards.
The merchandise website representatives did not respond immediately to inquiries. Decrypt's Requests for comments
The official Trump launch took place on 19 January, causing a rush of activity in the markets before it crashed spectacularly.
The token's market cap rose to nearly $15 billion at its peak, meaning that it very briefly was the 14th largest cryptocurrency. Wrapped Bitcoin’s (WBTC) market capitalization is $13.6 billion as at the time of this writing, according to CoinGecko. The presidential meme coin’s market cap has plummeted more than 60% since then to approximately $5.5 billion.
CoinGecko shows that as at the time of this writing, the token was trading for $27, a 22% decline in one week.
Despite the token's volatile price action, its use as a currency and investment asset seems to be growing.
Travel website Travala —a Booking.com competitor that accepts cryptocurrency for bookings— also integrated TRUMP payments into its website earlier this month.
Asset manager Rex Shares filed with Securities and Exchange Commission a request to provide an exchange-traded TRUMP fund for investors in the U.S. Bloomberg analysts believe that the fund may begin trading in April, if they are approved.
Stacy Elliott edited this article.