Ripple Labs Leads $1B Raise to Create XRP Digital Asset Treasury via SPAC

Deal Summary

Ripple Labs is leading a fundraising effort seeking at least $1 billion to establish a new XRP digital asset treasury (DAT) via a SPAC, contributing some of its own XRP holdings to the new firm. The initiative follows Ripple's $1 billion acquisition of GTreasury and plans to access global repo markets.