A growing wave of public companies is investing heavily in XRP, with total corporate treasury commitments nearing the $1 billion mark.

The trend highlights a growing institutional interest in incorporating blockchain-based assets into conventional financial plans. On June 12, Trident Digital, a Singapore-based Web3 company, said it would raise up to half a billion dollars to create an XRP treasury.

Trident Highlights Blockchain’s Capital Potential

CEO Soon Huat Lim stated that the effort represents the firm’s conviction in the potential of blockchain to transform capital allocation and frictionless cross-border transfer of value. He added that this step could be used as an example of how listed companies can engage with the decentralized finance (DeFi) sector responsibly.

Trident notes that it will build on the XRP holdings to earn yields by staking and actively contributing to the Ripple ecosystem. This announcement places Trident in a growing list of companies that are XRP-treasury-strategy inspired.

In May, Webus International announced its intentions to conduct a non-equity capital raise of $300 million to facilitate an XRP reserve to its international chauffeur pay platform. Likewise, an energy solutions provider VivoPower International recently received $121 million in private funding to create an XRP-based treasury system.

XRP Ledger Expands Real-World Asset Utility

Out of that, it has already invested $100 million in the Flare Network to spread its exposure to digital assets. In the meantime, a U.S. pharmaceutical logistics company Wellgistics has secured a 50 million credit line to invest in XRP.

Taken together, these corporate moves have taken XRP treasury commitments to $971 million, nearing the psychological $1 billion mark.

The increased attention is happening as the XRP Ledger grows in functionality as a platform tokenizing real-world assets and stablecoins. It is also improving its compatibility with other networks, such as Ethereum, due to recent updates.

The use of XRP by institutions also seems to gather momentum as the U.S. Securities and Exchange Commission (SEC) is still considering a number of spot ETF proposals, one of which is by Grayscale.

Market analysts believe that these developments have the potential to bring new institutional capital, as well as expand the use cases of XRP. Nevertheless, the market performance of XRP is subdued. As of writing, the token trades at $2.13, which is 45% below its January peak of $3.80.