XRP News Today: Corporate XRP treasuries near $1 billion as firms embrace blockchain

Corporate interest in XRP is surging, with total commitments to XRP treasuries nearing the $1 billion mark. This trend underscores a growing institutional embrace of blockchain technology and its potential to revolutionize financial strategies.

On June 12, Singapore-based Web3 firm Trident Digital announced plans to raise up to $500 million to establish a corporate XRP treasury. The firm's CEO, Soon Huat Lim, emphasized the move as a testament to the firm’s confidence in blockchain’s ability to transform capital allocation and facilitate seamless cross-border value transfers. Lim also highlighted that this initiative serves as an example for publicly listed firms looking to engage responsibly in the decentralized finance sector. Trident intends to deploy its XRP holdings to earn yields through staking and participation in Ripple’s ecosystem.

Trident’s announcement adds to a growing list of companies exploring XRP-focused treasury models. In May, Webus International revealed plans to raise $300 million through non-equity financing to support an XRP reserve for its global chauffeur payments network. Additionally, energy solutions firm VivoPower International secured $121 million in private funding to build an XRP-centric treasury platform. VivoPower has already allocated $100 million in XRP to the Flare Network to diversify its digital asset exposure.

Similarly, US pharmaceutical logistics company Wellgistics obtained a $50 million credit line to fund XRP-related initiatives. These corporate moves have driven the asset’s treasury commitments to $971 million, which is less than $30 million away from the $1 billion threshold.

These developments align with a period of renewed momentum within the XRP ecosystem. Over the past months, the XRP Ledger has expanded its role as a platform for decentralized applications and smart contracts while pursuing upgrades that enhance interoperability with networks such as Ethereum. Institutional adoption of the XRP token is also accelerating, with the US Securities and Exchange Commission (SEC) reviewing multiple spot ETF applications, including those from firms like Grayscale. Market analysts suggest these developments could unlock new institutional capital and expand the network’s use cases.

Despite these advancements, XRP’s price has remained range-bound in recent months. At press time, the digital asset is trading at $2.13, down 45% from its January peak of $3.80. This price volatility reflects the broader market dynamics and the ongoing regulatory scrutiny faced by the cryptocurrency industry.