Simply put
- Trident Digital Tech Holdings has revealed plans for the XRP Treasury, with an estimated cost of up to $500 million.
- The firm anticipates that the Ministry of Finance will start implementation later this year.
- TDTH shares plummeted by over 30% in a single day, marking a decline of more than 94% overall.
Trident, a known technology service provider, has secured up to $500 million. The company made this announcement regarding the Ministry of Finance on Thursday.
Based in Singapore, Trident’s flagship offering is a blockchain-based identity solution. The business trades on NASDAQ as TDTH and has appointed Chaince Securities LLC to serve as its strategic advisor.
“As a publicly traded entity, we prioritize transparency, strong governance, and strategic foresight in all our decisions. We view digital assets as essential to advancing the global financial landscape,” a spokesperson stated.
The spokesperson further added, “This initiative showcases our faith in the transformative power of blockchain technology for capital allocation and cross-border value transfers. We aim to illustrate how public companies can engage thoughtfully and responsibly in decentralized finance.”
The XRP Treasury is expected to launch in the latter part of 2025, employing various capital-raising strategies, such as stock issuances and structured financial products.
Meanwhile, Bitcoin remains the preferred token at the Ministry of Treasury for Digital Assets. Recently, several other firms have shared their plans related to the XRP Treasury.
In May, the healthcare infrastructure company WellGistics Health announced intentions for a $50 million share credit. They are looking to develop an XRP-centric payment framework.
Just last week, Chinese travel booking firm Webus mentioned plans to construct a $300 million XRP Treasury. Interestingly, while Webus stocks surged post-announcement, Trident’s shares saw a different fate.
TDTH shares experienced a drop of over 30% on Thursday and are now down more than 94% in the past year. In contrast, XRP decreased by 3.5% that day, settling at $2.20.
Trident representatives have not yet responded to requests for comments.
