Recent data released by the U.S. Securities and Exchange Commission shows that institutional adoption of XRP is increasing, with major companies integrating this digital asset into their strategies.
Overview of Institutional Use of XRP
XRP has begun to appear in the financial statements of corporate entities globally. According to new SEC data, institutional adoption of XRP is accelerating, with companies in various countries, particularly the U.S., China, and the U.K., incorporating XRP into their digital asset strategies.
Examples of Companies Adopting XRP
Legal expert Bill Morgan, known for his commentary on cryptocurrency regulation, shared new SEC documents on the social media platform X. Among these documents, Flora Growth Corp.'s Form 10-Q filing, which highlights holdings of XRP, Ethereum (ETH), and Solana (SOL), stands out. The company indicated on its website that these digital asset purchases are aimed at bolstering its financial health.
Another significant development came from Hyperscale Data, which, according to its Form 8-K, plans to purchase $10 million worth of XRP through its subsidiary, Ault Capital Group Inc. The company also announced that it would begin disclosing its crypto holdings monthly starting in August.
Global Trends in Digital Asset Adoption
Corporate activity concerning the adoption of XRP is not limited to the U.S. China-based Webus International filed a 6-K filing to establish an XRP-focused institutional fund management system valued at approximately 41.7 billion won (around $30 million). Additionally, U.K.-based VivoPower and U.S. pharmaceutical distribution firm Wellgistics are incorporating XRP as a strategic asset.
The growing use of XRP among corporate clients reflects the recognition of digital assets in the financial sector and may indicate further institutional responses to cryptocurrencies.
