Ripple Set to Acquire $1 Billion Worth of XRP Tokens for New Treasury

Cryptocurrency company Ripple Labs is reportedly preparing a fundraising effort to purchase $1 billion in its own XRP tokens to establish a dedicated digital asset treasury. The initiative, according to sources familiar with the matter, will be facilitated through a special-purpose acquisition company (SPAC). This move comes after Ripple recently acquired GTreasury for $1 billion, designed to expand its operations in managing digital assets like stablecoins and tokenized deposits. 💰