More and more public companies are committing large amounts of funds to the XRP Treasury, with total commitments approaching a $1 billion milestone.
This move shows an increasing institutional interest in integrating blockchain-based assets into a company’s financial strategy.
Momentum builds around the company’s XRP reserve
On June 12, Singapore-based web company Trident Digital revealed its plans to raise up to $500 million to set up the company’s XRP Ministry of Finance.
Trident CEO Huat Lim said the move underscores the company’s confidence in the potential of blockchains that translate capital allocations and allow for seamless cross-border value transfers.
Lim added that the effort serves as an example of how publicly available companies can be responsible for engaging in the evolving decentralized financial sector.
Trident will roll out its holdings to earn yields through staking and participation in Ripple’s ecosystem.
Meanwhile, Trident’s move will be added to the growth list of business companies exploring a financial model focused on XRP.
In May, Webus International announced plans to raise $300 million through non-established funds to support XRP reserves for its global driver payment network.
Energy Solutions Firm Vivopower International recently secured $121 million in private funding to build an XRP-centric financial platform. Already, to diversify exposure to digital assets, we have allocated $100 million in XRP to the flare network.
Similarly, US drug logistics company WellGistics has obtained a $50 million line of credit to fund XRP-related initiatives.
Overall, these companies’ movements have driven the Treasury commitment of assets to $971 million. That’s under $30 million from the $1 billion threshold.
Ecosystem growth
These developments coincide with a period of new momentum within the XRP ecosystem.
Over the past few months, XRP ledgers have expanded their role as tokenized real-world assets and Stablecoins platform, pursuing upgrades that increase interoperability with networks such as Ethereum.
Beyond that, the institutional adoption of XRP tokens is also accelerating. The Securities and Exchange Commission (SEC) reviews multiple Spot ETF applications in which companies, including Grayscale, participate in running.
Market analysts suggest that these developments can unlock new institutional capital and expand network use cases.
Despite these advancements, XRP prices have remained in range over the last few months. According to Cryptoslate data, digital assets were trading at $2.13 at press time, down 45% from their January peak of $3.80.
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