Ripple Labs will lead a fundraising effort of at least $1 billion aimed at establishing a new digital asset treasury to accumulate XRP, Bloomberg reported.
According to Bloomberg, citing sources familiar with the matter, the fundraising will be carried out through a special purpose acquisition company (SPAC), and Ripple will transfer its XRP assets to this company.
Ripple has not made an official statement on the matter. The report stated that the transaction terms are still under negotiation.
If the fundraising, which targets at least $1 billion, is successfully completed, it will create the largest XRP-based Digital Asset Treasury to date.
While Bitcoin and Ethereum are expected to dominate the cryptocurrency market in 2025, particularly regarding institutional adoption and DATs, XRP has seen significantly less interest as a base asset for DATs. However, this move is expected to boost interest in XRP.
Ripple currently holds 4.74 billion XRP (about $11 billion) in its wallets, with an additional 35.9 billion XRP held in an escrow account that is scheduled to be released monthly.
Despite the sharp declines, Ripple continues its aggressive market moves, announcing on the same day that it will acquire corporate treasury management software provider GTreasury for $1 billion. The company described the acquisition as a strategic move to help corporate treasury managers access digital assets like tokenized deposits and stablecoins.
XRP ranks fifth among global cryptocurrencies with a market capitalization of $138.9 billion. At the time of writing, XRP is trading around $2.31, down 4.4% in the last 24 hours.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ripple-labs-announces-new-1-billion-xrp-move-it-will-be-the-biggest-one-yet/
