SAN FRANCISCO / LONDON (IT BOLTWISE) – Ripple Labs is planning a multi-billion dollar funding round to create an XRP-centric crypto treasury. This initiative could significantly strengthen XRP’s role in the financial sector and set new standards for digital assets.
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Ripple Labs, a leader in blockchain technology, has announced plans to raise at least $1 billion to create a treasury focused on the cryptocurrency XRP. This initiative will be funded by a special acquisition company, according to industry reports. The funds raised will flow into a newly formed digital asset treasury, with Ripple Labs also contributing some of its own XRP holdings.
This announcement comes as XRP is at the center of one of the largest institutional bets in cryptocurrency history. With 13 exchange-traded funds awaiting SEC approval, the financial world’s interest in XRP is clearly evident. Companies like WisdomTree, Grayscale and Franklin Templeton, which collectively manage more than $1.6 trillion in assets, top the list of interested parties.
Ripple Labs’ planned funding round coincides with its recent acquisition of GTreasury, a Chicago-based fintech company. GTreasury specializes in providing treasury management solutions, which underlines Ripple’s strategic focus on the financial sector. This acquisition could help Ripple further consolidate its position in the digital asset management space.
Ripple’s decision to create an XRP-centric treasury could have far-reaching implications for the cryptocurrency market. It shows the growing interest of companies in integrating digital assets into their financial strategies. This could also encourage other companies to take similar steps to reap the benefits of blockchain technology.
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