XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news that Nasdaq-listed Reliance has officially added the token to its digital asset reserves.
Reliance Global Expands XRP Treasury Strategy
Crypto lawyer Bill Morgan shared in a post that Reliance Global Group (Nasdaq: RELI) made a $17 million purchase of XRP. He shared that the company made the filing on September 30, as noted in this press release.
The company described the purchase as part of a broader effort to diversify its holdings across blockchain-based assets with strong fundamentals and utility.
Reliance Chairman and CEO Ezra Beyman stated that the token’s blend of speed, scalability, and energy efficiency makes it a strategic fit for the firm’s long-term vision.
XRP currently ranks as the fourth-largest cryptocurrency by market capitalization. This powers low-cost cross-border transactions for banks and payment providers. Its transactions typically settle in under five seconds and cost a fraction of a cent.
The momentum behind corporate XRP adoption extends well beyond the United States. Japanese gaming and blockchain company Gumi Inc. recently announced a $38 million capital raise. The firm plans to allocate $13.5 million to the XRP treasury. The company’s DAT initiative seeks to increase shareholder value by utilizing cross-chain integrations, staking, and token appreciation.
Additionally, VivoPower recently raised $19 million by selling shares to grow its XRP treasury. This move helps establish XRP as a popular digital reserve asset for public companies.
Corporate Treasuries Surge Past $11.5 Billion
Data from Crypto Treasury Tracker reveals that total XRP Treasury holdings have climbed to $11.5 billion. This shows the token’s growing appeal as a reserve asset among publicly traded companies.
With an estimated $10.4 billion in holdings, SBI Holdings of Japan is at the top of the pack, followed by Trident Digital and Webus International.
Back in June, Trident announced plans to secure up to $500 million to establish one of the first major corporate XRP Treasuries globally. The company has partnered with Chaince Securities LLC as its strategic advisor to oversee the capital deployment.
In the same month, Webus filed a Form 6-K with the SEC detailing its $300 million XRP-focused treasury. The company also referenced a partnership with Samara Alpha Management to create a strategic framework for future digital asset initiatives centered around the token.
Source: https://coingape.com/xrp-treasury-holdings-hits-11-5b-as-nasdaq-listed-reliance-global-adds-17m-in-fresh-buy/
