Ripple To Buy $1 Billion XRP Tokens For New Treasury

Ripple Labs is reportedly set to launch a fundraising effort to purchase $1 billion worth of its XRP token for a new digital asset ￰0￱ already holds a substantial amount of XRP, with the company’s market report revealing it has 4.5 billion XRP tokens, and another 37 billion tokens locked in ￰1￱ Labs To Lead $1 Billion Fundraise Ripple Labs is reportedly launching a fundraising effort to purchase $1 billion worth of its XRP tokens, to be held in a digital asset treasury, according to a report by ￰2￱ company is organizing the fundraiser through a special purpose acquisition company, or ￰3￱ new digital asset treasury will consist of freshly purchased XRP tokens.

Additionally, Ripple Labs will also add to the stash from its own XRP stockpile. However, the exact terms of the transaction are still being discussed and could change before the deal is signed. “JUST IN: RIPPLE LABS TO LEAD $1B FUNDRAISE VIA SPAC TO ACCUMULATE XRP FOR NEW DIGITAL ASSET TREASURY.” Big Market Moves Ripple Labs also announced the purchase of GTreasury, a Chicago-based corporate treasury management firm, for $1 billion, making it the company’s third major acquisition of ￰4￱ to sources, the deal will give Ripple Labs the tools to manage digital assets held in corporate ￰5￱ include stablecoins and tokenized deposits that can generate yield for clients.

GTreasury’s treasury management software will work with Ripple’s blockchain infrastructure, allowing funds to be accessed around the clock, providing near-instant settlement for cross-border ￰6￱ CEO Brad Garlinghouse stated that the acquisition addresses problems with slow payment systems, adding that money has been stuck in outdated infrastructure, which causes delays and high ￰7￱ purchase comes after Ripple acquired Hidden Road, a prime brokerage firm, in ￰8￱ also acquired stablecoin platform Rail during the same ￰9￱ Could Become The Largest XRP Treasury Ripple Labs currently holds over 4,5 billion XRP out of a total supply of 59 billion ￰10￱ the company moves forward with the treasury plan and executes its $ billion buy, it will scoop up an additional 427 million ￰11￱ company also has an additional 37 billion tokens locked in ￰12￱ from the escrow are released monthly, with some being sold and others being returned to escrow.

Currently, Bitcoin (BTC) and Ethereum (ETH) lead the crypto treasury ￰13￱ investors hold $152 billion in BTC and $23 billion in ￰14￱ has not seen as enthusiastic a response. However, several firms plan to establish an XRP ￰15￱ Digital Tech Holdings, a Web3 company based in Singapore, plans to establish an XRP treasury of up to $500 million. Meanwhile, Chinese AI company Webus plans to allocate $300 million towards an XRP treasury while VivoPower plans to accumulate $100 million worth of XRP tokens. Disclaimer: This article is provided for informational purposes ￰16￱ is not offered or intended to be used as legal, tax, investment, financial, or other advice.