MEXCJust In: Nasdaq-Listed Trident To Raise $500M For XRP Treasury Reserve
Highlights
- Trident plans to raise up to $500 million to establish one of the world's largest corporate XRP treasuries.
- The company has appointed Chaince Securities LLC as a strategic advisor for this initiative.
- The company will look to acquire XRP tokens as a long-term reserve asset and also deploy staking mechanisms to generate yield.
Nasdaq-listed Trident is also jumping on the XRP wave by becoming the latest company to declare its intention to gain exposure to the second-largest altcoin by market cap. The company plans to raise $500 million as it looks to establish an XRP Treasury.
Trident To Raise $500 Million For XRP Treasury
In a press release, the Nasdaq-listed company announced the initiative to raise up to $500 million to establish one of the world’s first large-scale corporate XRP Treasuries. To achieve this, the company has also appointed Chaince Securities LLC as the strategic advisor.
Trident will raise this sum through a mix of equity issuance, strategic placements, and structured financing instruments. The company is already discussing with leading crypto foundations and institutional partners to secure favorable token acquisition terms and robust on-chain infrastructure.
It plans to roll out the XRP Treasury initiative in the second half of the year, subject to regulatory compliance and prevailing market conditions. The company will also provide ongoing updates on deployment milestones, governance frameworks, and reporting standards.
Trident noted that this strategic move positions it at the forefront of integrating decentralized financial assets into treasury and capital management practices. This also marks a significant milestone in the evolution of blockchain-native financial infrastructure.
This initiative will focus on acquiring XRP tokens as a long-term strategic reserve. The company will also deploy staking mechanisms to generate yield, following in VivoPower’s footsteps to invest $100 million in XRP on the Flare network for yields.
Trident also plans to deeply engage with the Ripple ecosystem and will collaborate with select infrastructure and application projects. This forms part of the company’s plans to further strengthen its commitment to the advancement of decentralized finance.
The XRP price is down almost 4% in the last 24 hours amid this development, trading at around $2.24. Trading volume is also down almost 7%, with $2.66 million traded during this period.
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