Trident Digital Tech Holdings, a Web3 company based in Singapore, has announced plans to establish an XRP treasury worth up to $500 million. This move aligns with a growing trend among companies to hold reserves of the Ripple-created cryptocurrency. The company's founder and CEO, Soon Huat Lim, emphasized the potential of blockchain technology for capital allocation and cross-border value transfer. Trident intends to actively engage with the Ripple ecosystem and generate yield from its XRP reserves through staking mechanisms. The launch of the XRP treasury is scheduled for the second half of 2025, subject to regulatory and market conditions. Despite this announcement, Trident's shares experienced a significant decline on the day of the news. The company aims to raise capital for its XRP reserve through various means, including stock issuance and strategic placements. This initiative reflects a broader trend of companies, such as Webus and VivoPower, establishing XRP reserves as part of their corporate strategies. Read more AI-generated news on: https://app.chaingpt.org/news

#XRP