Ripple Labs Is Leading A $1 Billion Fundraise To Establish XRP-Centered Treasury: Report

Blockchain company Ripple Labs is spearheading an initiative to raise at least $1 billion to create an XRP (CRYPTO: XRP)-focused cryptocurrency treasury, according to a report published on Thursday.

A Dedicated XRP Treasury Company In The Offing?

The funds will be raised through a special purpose acquisition company, Bloomberg reported, citing sources familiar with the matter.

The raised funds will be shifted to a newly established digital-asset treasury. Ripple Labs will also contribute some of its own XRP to the treasury, the report said.

Ripple didn’t immediately return Benzinga‘s request for comment.

See Also: Ripple (XRP) Price Prediction: 2025, 2026, 2030

The Race For XRP Treasuries Is Heating Up

This is not the first time corporations …

Full story available on Benzinga.com