Ripple Plans $1 Billion Fundraise for XRP Treasury
Ripple Labs is reportedly planning to raise at least $1 billion to fund an XRP accumulation strategy. This move involves setting up a digital-asset treasury.
Teh fundraise will likely be executed via a SPAC.
A SPAC, or special purpose acquisition company, will be used for this purpose. Ripple will contribute part of its 4.74 billion XRP tokens. SPACs are publicly traded shell companies that raise capital for merging with other firms.
Ripple has not officially announced this yet. Details are still under discussion.If prosperous, this could make Ripple the largest XRP-focused digital asset treasury.
Other companies, like Nasdaq-listed VivoPower, have also shown interest in building similar treasuries. However, XRP has not attracted as much attention from digital asset investors as Bitcoin or Ethereum.
Ripple recently acquired GTreasury, a treasury management platform. This acquisition could help Ripple manage a large XRP reserve.
Despite these developments, XRP’s price has not seen a notable increase. It fell by 2.5% over the past 24 hours.
