OceanPal, a company previously known for its involvement in the maritime industry, has secured $120 million to launch a dedicated NEAR Treasury. This initiative aims to accumulate up to 10% of the NEAR blockchain’s total token supply, positioning it as a significant player in the realm of digital assets. The company will leverage this funding to establish SovereignAI Services LLC. This subsidiary will manage the NEAR Treasury and develop AI infrastructure built upon the NEAR blockchain and NVIDIA technology. These efforts aim to provide confidential computing solutions for businesses across sectors such as healthcare, media, and finance. ‘@sal_ternullo’, co-CEO of OceanPal, highlights the potential of NEAR in capturing greater value within the digital asset market. OceanPal is collaborating with the NEAR Foundation on this endeavor, with Illia Polosukhin from the Foundation’s leadership team joining SovereignAI’s advisory board alongside experts from OpenAI, Quicknode, Fabric Ventures, and Galaxy Digital. This project involves a strong leadership team with backgrounds at State Street and Robinhood, bolstering its credibility. The establishment of a NEAR Treasury has potential implications for the NEAR token. If SovereignAI acquires 10% of the supply, it could influence market supply dynamics. The initiative represents a pioneering step towards public companies utilizing dedicated crypto treasuries. It could pave the way for blockchain assets to gain wider acceptance within traditional financial markets.