Trident Digital Tech Holdings, a Singapore-based firm focused on Web3, has unveiled plans to raise as much as $500 million to establish one of the largest corporate XRP treasuries globally. Set to launch in the latter half of 2025, this initiative marks a significant step in the cryptocurrency landscape with Chaince Securities LLC as the strategic advisor. The company intends to build long-term XRP reserves while generating yield through staking and engaging actively within the Ripple ecosystem.
Funding will come from equity sales, strategic partnerships, and structured financing. Trident is currently negotiating with various crypto foundations and investors to solidify these initiatives. On Thursday, Trident’s shares fell by over 30% and they’re down more than 95% over the past year. Similarly, XRP has decreased by more than 5%, trading at $2.12.
Trident’s CEO, Soon Huat Lim, described blockchain as pivotal for transforming global finance, stating, “We see digital assets as key enablers in the evolution of the global financial landscape.” His remarks underline the growing role of public companies in the decentralized finance (DeFi) sector.
The push for corporate large holdings in XRP is evident, with several companies, including Chinese AI firm Weebus and VivoPower, planning their own significant XRP reserves, reflecting a trend where XRP joins Bitcoin and Solana as a primary choice for corporate treasury allocations. While Bitcoin has received wider acceptance from companies like MicroStrategy, XRP is progressively being recognized as a viable option by various public entities.
Funding will come from equity sales, strategic partnerships, and structured financing. Trident is currently negotiating with various crypto foundations and investors to solidify these initiatives. On Thursday, Trident’s shares fell by over 30% and they’re down more than 95% over the past year. Similarly, XRP has decreased by more than 5%, trading at $2.12.
Trident’s CEO, Soon Huat Lim, described blockchain as pivotal for transforming global finance, stating, “We see digital assets as key enablers in the evolution of the global financial landscape.” His remarks underline the growing role of public companies in the decentralized finance (DeFi) sector.
The push for corporate large holdings in XRP is evident, with several companies, including Chinese AI firm Weebus and VivoPower, planning their own significant XRP reserves, reflecting a trend where XRP joins Bitcoin and Solana as a primary choice for corporate treasury allocations. While Bitcoin has received wider acceptance from companies like MicroStrategy, XRP is progressively being recognized as a viable option by various public entities.
