Trident Digital Tech Holdings Ltd plans to raise $500M for a pioneering XRP Treasury, integrating decentralized finance with strategic token reserves.
Nasdaq-listed Trident has also joined the XRP tide by announcing its intention to increase its exposure to the second-largest altcoin by market cap. To establish an XRP Treasury, the organization intends to raise $500 million.
Trident To Raise $500 Million For XRP Treasury
The Nasdaq-listed company announced in a press release that it intends to raise $500 million to construct one of the world’s first large-scale corporate XRP Treasuries. Additionally, the organization has designated Chaince Securities LLC as its strategic advisor to accomplish this objective.
Trident will generate this amount by employing a combination of structured financing instruments, strategic placements, and equity issuance. The company is currently in the process of engaging in discussions with prominent crypto foundations and institutional partners to establish a robust on-chain infrastructure and favorable token acquisition terms.
It intends to implement the XRP Treasury initiative in the latter half of the year, contingent upon regulatory compliance and current market conditions. Additionally, the organization will furnish continuous updates regarding governance frameworks, deployment milestones, and reporting standards.
Trident observed that this strategic move places it at the vanguard of integrating decentralized financial assets into treasury and capital management practices. This also represents a significant milestone in the development of blockchain-native financial infrastructure.
This initiative aims to accumulate XRP tokens as a long-term strategic reserve. The company will also implement staking mechanisms to generate yield, following in the footsteps of VivoPower, which invested $100 million in XRP on the Flare network to optimize yields.
Additionally, Trident intends to participate significantly in the Ripple ecosystem and will collaborate with specific infrastructure and application initiatives. This is a component of the organization’s strategy to bolster its dedication to developing decentralized finance.
In response to this development, the XRP price has declined by nearly 4% over the past 24 hours, currently trading at approximately $2.24. Additionally, the trading volume has decreased by nearly 7%, with $2.66 million traded during this time.
