Ripple Labs is reportedly spearheading a plan to raise at least $1 billion to establish a new Digital Asset Treasury (DAT) dedicated to XRP, according to sources cited by Bloomberg.
The ambitious fundraising effort is set to be conducted via a special purpose acquisition company (SPAC), with Ripple also contributing a portion of its own significant XRP holdings. While the exact details of the transaction structure are still under discussion, a successful launch would create the largest digital asset treasury focused on the world’s fifth-largest cryptocurrency.
The move signals Ripple’s intent to strengthen the institutional adoption of XRP, which has so far lagged behind assets like Bitcoin and Ethereum in the DAT market. Currently, Singapore-based Trident Digital is also in the process of raising a $500 million XRP treasury fund.
The report of the fundraising plan closely follows Ripple’s announcement on Thursday that it acquired Chicago-based fintech company GTreasury, which specializes in treasury management system software, for $1 billion.
Ripple stated the GTreasury acquisition is designed to unlock the multi-trillion dollar corporate treasury market, providing access to top-tier enterprise clients. The combined entity plans to initially focus on enabling customers to access the global repo market and facilitate real-time, competitive cross-border payments—a core service for Ripple.
Despite the firm’s strategic moves, XRP’s price fell 3.33% over the past 24 hours to trade at $2.35, reflecting a broader downturn in the cryptocurrency market.
