Trident Announces XRP Reserve that Could Reach $500M
Trident Digital Tech Holdings, a Singapore-based Web3 company, will establish an XRP treasury of up to $500 million, joining several other firms that have announced similar reserves since May. The initiative aims to showcase the potential of blockchain for capital allocation and cross-border transactions. Trident plans to generate yield from its XRP reserves through staking mechanisms and intends to engage deeply with the Ripple ecosystem. The reserve's launch is scheduled for the second half of 2025, contingent on regulatory and market conditions. Following the announcement, Trident's shares dropped 37.6%. The company reported a net income loss of $3.1 million in December 2024, with revenue down 91.4% year-over-year. Capital for the XRP reserve will be raised through stock issuance and other financing methods. Other companies, including Webus, VivoPower, and Wellgistics Health, have also announced XRP reserves. XRP's rise has positioned it alongside Bitcoin and Solana as a focus for corporate treasury strategies.
