Trident, a Nasdaq-listed tech company based in Singapore, has announced its plans to raise a whopping $500 million for its XRP treasury strategy.
The tokens acquired by Trident will serve as the company’s long-term strategic reserves.
The rollout of the ambitious XRP plan will commence in the second half of the year. It will depend on such factors as market sentiment and regulatory compliance.
CEO Soon Huat Lim has stressed the company’s belief in the transformative potential of blockchain technology.
XRP is emerging as an increasingly attractive option for budding Strategy copycats that are willing to go beyond Bitcoin.
As reported by U.Today, Chinese AI-focused automotive firm Webus International recently filed a $300 million XRP treasury plan with the U.S. Securities and Exchange Commission (SEC).
Similar initiatives of smaller size have also been announced by sustainable energy solutions firm VivoPower and pharmaceutical distribution firm Wellgistics ($121 million and $50 million, respectively).
Earlier this week, VivoPower announced that it would deploy $100 million work of XRP tokens on the Ripple-backed Flare network in order to generate yield.
Source: https://u.today/500000000-xrp-treasury-plan-announced-by-nasdaq-listed-company
