Singapore's Trident Makes Bold $500M Bet on XRP
Trident Digital Tech Holdings, a Web3 company based in Singapore, is planning to set up a massive XRP treasury worth up to $500 million. The firm’s founder and CEO, Soon Huat Lim, says the move shows their strong belief in blockchain technology, especially for things like managing capital and moving money across borders.
The company plans to grow this treasury by staking XRP and working closely with the Ripple ecosystem to earn yields. To fund the initiative, Trident is looking at a mix of equity sales, strategic partnerships, and structured financing.
They're also in talks with crypto foundations and large institutional investors to try to get favorable terms on acquiring XRP. If all goes to plan—and they get regulatory approval—they aim to roll out the treasury in the second half of 2025.
The treasury is meant to be a long-term reserve, focused on earning returns and supporting Ripple-related projects. Still, not everyone’s convinced: Trident’s stock dropped nearly 35% on the day of the announcement, signaling some investor concerns.
Trident isn’t alone in this space—other companies like Vivopower have also started adding XRP to their treasuries, with Vivopower recently committing $100 million to a similar strategy.