Trump Media & Technology Group (TMTG), the company behind Truth Social, is rolling out a new feature that will allow users to convert "Truth Gems" into Cronos (CRO) tokens. This move signifies a deeper integration of cryptocurrency into the platform and a strategic partnership with Crypto.com.

The "Truth Gems" are part of an upgraded rewards program for Truth Social users subscribed to the Patriot Package, a paid version of the Truth+ streaming platform. These gems can be earned through various activities on Trump Media's platforms. Now, users will be able to redeem these gems for CRO, the native token of Crypto.com, utilizing the exchange's wallet infrastructure. This breaks previous speculation that Truth Social would launch its own independent token.

This initiative is part of a broader partnership between Trump Media and Crypto.com, which includes the integration of Crypto.com's digital wallet infrastructure across TMTG's platforms. As part of the deal, Trump Media acquired 684.4 million CRO tokens, representing approximately 2% of the cryptocurrency's circulating supply. The purchase agreement involved a 50% stock and 50% cash exchange, with Trump Media paying roughly 15.3 cents per token. Crypto.com, in turn, will purchase $50 million of common stock in Trump Media.

The partnership aims to broaden the utility and value of CRO and the Cronos blockchain. Users can also use CRO balances to pay for subscriptions and services on Truth Social and Truth+. Furthermore, free or discounted Truth+ subscriptions may be available for those opening a Crypto.com account.

TMTG CEO Devin Nunes has expressed enthusiasm for the partnership, viewing CRO as a network that could underpin future digital asset exchanges and payments. Crypto.com CEO Kris Marszalek described the deal as the "first of many steps to driving utility and value for CRO and the Cronos blockchain".

Following the announcement, the price of CRO experienced a surge. The integration of Cronos as a utility token for rewards on Truth Social and Truth+ allows users to swap engagement "gems" for CRO via the Crypto.com app wallet. This move exposes Truth Social's user base to CRO, potentially driving further adoption and utility of the cryptocurrency.

Trump Media has also formed Trump Media Group CRO Strategy, Inc., an entity that is merging with Yorkville Acquisition Corp. to trade as MCGA on Nasdaq. The company aims to build a substantial CRO treasury and run a validator node on the Cronos chain, reinvesting staking rewards to grow its holdings.