Corporate investments in XRP continue to rise, reflecting growing interest in blockchain technologies, leading to significant financial commitments from companies.
Current Trident Digital's XRP Investment Plan
On June 12, Singapore-based Web3 company Trident Digital announced its plan to raise up to $500 million to create a corporate treasury based on XRP. CEO Soon Huat Lim stated that this move reflects the company's confidence in the potential of blockchain technology. Lim believes it can transform how businesses manage capital and transfer funds across borders. This initiative will also serve as a guide on how public companies can responsibly participate in decentralized finance (DeFi). Trident plans to earn returns on its XRP holdings by staking and using them within Ripple's growing ecosystem.
Examples of Other Companies Utilizing XRP
Trident Digital is not alone; other companies have also begun to follow this example. Webus International announced its intention to raise $300 million through non-equity funding to establish a Ripple treasury for its global chauffeur payment system. VivoPower International raised $121 million to support its XRP-based treasury plan, already invested $100 million in XRP on Flare Network. Also, US-based Wellgistics secured a $50 million credit line for Ripple-related projects. These actions have brought total Ripple treasury commitments to $971 million, just $29 million shy of the $1 billion milestone.
XRP Market and Its Impact on Financial Strategies
Despite the increasing activity in its ecosystem, the price of XRP has remained relatively flat. According to CoinMarketCap data, it is currently trading at $2.15, down 4.16%, and still 45% below its January peak of $3.80. However, the growing number of companies holding XRP in their treasuries indicates a shift in how businesses view blockchain assets. Firms are starting to treat these assets not only as investments but as important tools for business and finance. As corporate investments in the Ripple coin approach $1 billion, its adoption in global finance could grow.
With rising corporate investments in XRP, the significance and application of blockchain assets in financial management for businesses are becoming more apparent. This points to a potential sector-wide transition towards the active use of digital currencies.
