In Singapore, Trident Digital Tech Holdings Ltd, a Nasdaq-listed firm, announced plans to raise up to $500 million to establish a large-scale XRP treasury. The project is slated to commence in the second half of 2025, contingent on regulatory approvals and market conditions. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)
The company intends to secure funds through equity sales, strategic investments, and structured deals. The raised capital will be directly allocated to purchasing XRP tokens, alongside setting up staking mechanisms to generate additional returns. Discussions with major crypto groups are already underway to secure favorable deals. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)
The primary objective is to maintain XRP as a long-term reserve asset. According to Trident's CEO, Soon Huat Lim, blockchain tools can modernize corporate cash management. Clear updates will be provided to shareholders, adhering to public firm regulations. This initiative could serve as a model for integrating new technology with traditional finance. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)
Other firms are following suit, with Webus International filing to establish a $300 million XRP fund, utilizing loans and credit lines. VivoPower International has already committed $100 million to XRP purchases, and Wellgistics Health secured a $50 million credit line for the same purpose. Hyperscale Data Inc. will contribute up to $10 million by year-end. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)
Significant token purchases have the potential to impact market dynamics and increase prices. Investors are closely monitoring the ongoing legal discussions surrounding XRP globally. Trident's stock experienced a nearly 40% decrease following the initial announcement, due to concerns about share dilution and token volatility. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)