Holdings (TDTH) announces plans to raise up to $500 million in XRP reserves
On the 12th (local time), Trident founder and CEO Soon Huat Lim released a statement saying, "The plan is a step forward in capital allocation and cross-border value transfer."
"This reflects our belief in the transformative potential of blockchain technology," and "ensures that public companies can participate thoughtfully and responsibly in the evolution of decentralized finance (DeFi)."
The move joins a series of companies that have announced since May last year that they would hold XRP, a cryptocurrency developed by Ripple, as reserves.
Rather than simply buying and holding XRP, Trident plans to use a staking mechanism to generate revenue and deepen cooperation with the Ripple ecosystem.
Reserve accumulation is expected to begin in the second half of 2025, although this may vary depending on regulatory and market conditions.
In addition, to create an XRP reserve, we will issue shares, attract strategic investments, and
The company plans to raise funds through stock options and other financial instruments. However, on the day of the announcement, Trident's shares fell 37.6%, likely reflecting market concerns. December 2024
At the time of writing, Trident had posted a net loss of $3.1 million, with revenue down 91.4% and operating expenses up 101.3% compared to the previous year.
Meanwhile, several other companies besides Trident are said to be using XRP as reserve funds. Chinese AI company Webus has also adopted XRP for reserves of 3 billion.
VivoPower has announced it will create an XRP reserve worth $100 million, while Wellgistics has announced it will create an XRP reserve worth $100 million.
Health has announced plans for a $50 million XRP reserve each.
2025/06/13 16:23 KST
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