Ripple Raises $1 Billion for XRP Treasury Through SPAC, Aiming to Dominate Corporate Payments

Ripple is spearheading a major fundraising effort to create a dedicated digital asset treasury (DAT) focused on accumulating XRP tokens. The company plans to raise at least $1 billion through a special purpose acquisition company (SPAC), according to Bloomberg reports. This move underscores the continued ambition of crypto giants despite recent market volatility. Ripple will contribute some of its own XRP to the new DAT, according to sources. The company already holds 4.74 billion XRP worth roughly $11 billion and has a significant amount of XRP locked in escrow for future releases. Notably, Ripple controls over 40% of the total XRP supply.