- Trident to raise US$500M (AU$770M) for XRP-focused corporate treasury.
- Shares drop more than 30% following the announcement, trading under US$0.20
- Treasury to include staking, Ripple partnerships, and long-term reserves.
Singapore-based Trident Digital Tech Holdings Ltd has announced an initiative to raise up to US$500 million (AU$769.95 million) to create a large-scale XRP treasury. Chaince Securities LLC has been named as strategic advisor.
The treasury will focus on long-term XRP holdings, staking mechanisms, and integration within the Ripple ecosystem.
According to Trident, the capital will be raised through equity sales, private placements, and structured financing instruments. Deployment is targeted for the second half of 2025, subject to regulatory and market conditions.
Founder and CEO Soon Huat Lim said digital assets are key enablers in the evolution of the global financial landscape, and that the move reflects Trident’s commitment to transparency, governance, and strategic foresight.
This initiative reflects our belief in the transformative potential of blockchain technology for capital allocation and cross-border value transfer.
Soon Huat Lim, Founder and CEO of Trident
Related: Guggenheim’s Digital Commercial Paper Goes Live on XRP Ledger
Shares Tumble After Announcement
Following the announcement, Trident shares experienced a significant decline, dropping by over 46% in early trading, before recovering to close the day approximately 30% lower than the previous close, at under US$0.20 (AU$0.31).
Rather than a buy-and-hold approach, Trident plans to use its XRP reserves to generate yield and engage deeply with the Ripple ecosystem. By aligning with this ecosystem, Trident is positioning itself within a broader network of developers and financial platforms aiming to modernise global value transfer.
Other companies building are also XRP reserves, including Webus, VivoPower, and Wellgistics Health. If successful, Trident would be one of the few public companies with a major treasury position in XRP, alongside firms adopting Bitcoin and Solana strategies.
Related: Wellgistics Health Taps XRP’s Speed and Low Fees to Revolutionise Healthcare Payments
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