Ripple Eyes $1 Billion Raise For XRP Treasury, Buys GTreasury For $1 Billion
Ripple is reportedly seeking to raise at least $1 billion to establish an XRP treasury and confirmed a separate $1 billion acquisition of treasury management systems firm GTreasury. Ripple plans to raise the funds for its XRP treasury via a special purpose acquisition company (SPAC) and may contribute some of its own XRP holdings to the new entity, Bloomberg reported, citing people familiar with the matter. Ripple already holds 4.7 billion XRP, worth about $11 billion, and there are another 35.9 billion tokens that sit in an on-ledger escrow that unlock over time. If the new treasury is established, it could become one of the largest dedicated to XRP, and would be double the size of the XRP treasury that Singapore-based Trident Digital announced in June. Ripple Looks To Unlock $120 Trillion Corporate Treasury Market The plan to create a $1 billion XRP treasury company coincides with Ripple’s acquisition of Chicago-based GTreasury, which provides treasury management system sof...