What to know:
So, here we are, folks! Singapore-based Trident Digital (TDTH) is on a quest to raise a whopping $500 million. Why, you ask? To build what they claim will be one of the world’s first corporate treasuries centered around XRP. Because, you know, who wouldn’t want to put their financial future in the hands of a digital currency that sounds like a sneeze? 🤧
The tech firm, which is listed on Nasdaq (yes, that Nasdaq), announced in a press release that this fundraise will support long-term XRP holdings, yield-generating strategies via staking, and a deeper involvement in Ripple’s ecosystem. In layman’s terms, they’re betting big on a digital currency that’s as stable as a three-legged dog on roller skates.
Trident plans to deploy this treasury in the second half of 2025, assuming the regulatory gods smile upon them. U.S.-based Chaince Securities will be their strategic advisor, which is a fancy way of saying they’ll be the ones holding the umbrella while Trident dances in the rain of uncertainty.
CEO Soon Huat Lim is framing this effort as a forward-looking bet on the role digital assets can play in corporate capital management. “We see digital assets as key enablers in the evolution of the global financial landscape,” he said, probably while wearing a tinfoil hat. He added that this move reflects Trident’s “commitment to transparency, strong governance, and strategic foresight.” Because nothing says “trust us” like a company diving headfirst into the wild world of cryptocurrency.
If successful, the treasury would place XRP in rare company among corporate-held digital assets. While bitcoin has been adopted by firms like MicroStrategy and Metaplanet (yes, that’s a real name), only a handful of public companies have dared to pursue similar strategies with other tokens. It’s like being the only kid on the block who still plays with marbles while everyone else is busy trading Pokémon cards. 🎮
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2025-06-12 18:10