Ripple Raises $1 Billion to Expand XRP Holdings Through SPAC

Ripple, a prominent player in blockchain payments, is planning a significant capital injection through a special purpose acquisition company (SPAC) to bolster its XRP holdings. The initiative aims to secure an additional $1 billion, primarily to expand the company’s liquidity and reserves of this cryptocurrency. Currently, Ripple holds approximately $11 billion worth of XRP, and this fundraising strategy will reinforce their efforts in fostering broader adoption of XRP for cross-border payments and tokenization.