Ripple Labs is preparing to raise $1 billion to support the creation of a dedicated XRP treasury, according to a Bloomberg report citing sources familiar with the matter. The proposed fundraiser will be conducted through a Special Purpose Acquisition Company (SPAC). The new Digital Asset Treasury (DAT) will comprise newly acquired XRP tokens, as well as contributions from Ripple’s existing holdings.
Ripple already holds a substantial position in XRP. As of May, the company controlled 4.5 billion tokens in its own wallet, with an additional 37 billion tokens locked in on-ledger escrow. These escrowed tokens are released monthly, and unused portions are returned to the escrow.
The proposed could boost Ripple’s XRP holdings by up to 427 million, given the token’s current price of approximately $2.35. This strategy would position Ripple among the top institutional holders of XRP, establishing a structured treasury similar to the funds managed by other cryptocurrency entities and corporations for Bitcoin and Ethereum.
On Thursday, Ripple furthered its corporate by acquiring GTreasury, a treasury management firm, in a $1 billion deal. This acquisition adds infrastructure that enables Ripple to oversee stablecoins, tokenized deposits, and other digital assets for corporate clients.
