Trident Digital, Fundraising up to 500 Million Dollars to Establish XRP Reserve

Trident Digital Tech Holdings, a Web3 company in Singapore, is embarking on a fundraising of up to $500 million to establish a digital asset reserve centered around XRP. According to StreetInsider, the company plans to secure this fund through stock issuance, investment attraction, structured financial products, and more.

Trident is currently in discussions with multiple institutional investors for purchasing XRP, and the full-fledged formation of the reserve is scheduled for the second half of this year, considering market conditions and regulatory environment.

This plan is interpreted as a move to incorporate XRP as a strategic asset at the corporate level, serving as an example of the gradually increasing institutional demand for the Ripple ecosystem.