SINGAPORE’S TRIDENT BETS BIG ON XRP WITH 500M TREASURY PLAN

- Trident Digital Tech Holdings, a Singapore-based Web3 firm, plans to launch an XRP treasury worth up to $500 million.

- Founder and CEO, Soon Huat Lim, said the initiative reflects their belief in blockchain's potential for capital allocation and cross-border transfers.

- Trident intends to generate yield by deploying stake mechanisms and engaging deeply with the Ripple ecosystem.

- The company aims to raise funds through equity issuance, strategic placements, and structured financing.

- Also, the firm is in talks with crypto foundations and institutional partners to secure favorable XRP acquisition terms.

- The treasury rollout is planned for the second half of 2025, pending regulatory approval and market conditions.

- This treasury will focus on long-term XRP reserves, yield generation, and collaboration with Ripple-related projects.

- Despite the ambitious plan, Trident’s shares dropped nearly 35% on the announcement day, reflecting market skepticism.

- Trident’s move follows similar steps by other companies like Vivopower, which recently committed $100 million in XRP as part of its institutional treasury strategy.