tl;dr
Trident, a publicly traded technology services company based in Singapore and listed on Nasdaq as TDTH, announced plans to raise up to $500 million to build an XRP treasury. The company appointed Chaince Securities LLC as a strategic advisor. Trident's CEO Soon Huat Lim emphasized the firm's commitm...
Trident, a Singapore-based technology services company listed on Nasdaq as TDTH, plans to raise up to $500 million by mid-2025 to build an XRP treasury, underscoring its commitment to blockchain and decentralized finance. The firm has appointed Chaince Securities LLC as a strategic advisor to guide this initiative.
CEO Soon Huat Lim highlighted Trident’s dedication to transparency, strong governance, and the transformative power of blockchain technology, emphasizing digital assets as pivotal in evolving the global financial landscape. The XRP treasury rollout is slated for the second half of 2025, employing diverse capital-raising strategies such as equity issuance and structured financial instruments.
While Bitcoin remains the most popular token for digital asset treasuries, Trident joins other publicly traded companies like Wellgistics Health and Webus in embracing XRP treasuries. Wellgistics announced a $50 million equity line of credit for acquiring XRP and developing XRP-enabled payment infrastructure, whereas Webus aims to build a $300 million XRP treasury. Notably, Webus shares rose following their announcement, contrasting with Trident’s shares which fell over 30% on the news and have declined more than 94% over the past year.
XRP’s price dropped 3.5% to $2.20 on the day of Trident’s announcement. This move highlights the growing interest among public companies in decentralized finance, though it comes amid market volatility and investor skepticism. As Trident advances its XRP treasury, the broader implications for blockchain adoption and the digital asset ecosystem remain a story to watch closely.