Singapore-based Trident Digital Tech Holdings has announced plans to establish a $500 million XRP treasury reserve, reflecting growing institutional interest in the Ripple-associated digital asset. At the same time, Ripple’s ongoing legal battle with the US Securities and Exchange Commission may soon conclude, as both parties seek court approval to finalize a $125 million settlement and dissolve a long-standing injunction.
Trident Digital Tech Holdings to Launch $500 Million XRP Treasury Reserve Amid Growing Corporate Crypto Trend
Trident Digital Tech Holdings, a Web3 technology firm headquartered in Singapore, announced on Thursday that it will establish an XRP treasury reserve of up to $500 million, marking one of the largest single corporate allocations to the Ripple-created cryptocurrency to date. The initiative sheds light on a deepening shift in how forward-looking companies are beginning to engage with decentralized finance (DeFi) and blockchain-based assets for treasury management and yield generation.
In a statement released with the announcement, Trident’s founder and CEO Soon Huat Lim emphasized the company’s long-term strategic vision for blockchain integration.
“This initiative reflects our belief in the transformative potential of blockchain technology for capital allocation and cross-border value transfer,” said Lim. “Through this initiative, Trident aims to demonstrate how public companies can thoughtfully and responsibly participate in the ongoing development of decentralized finance.”
Unlike traditional treasury approaches that often center around passive buy-and-hold strategies, Trident plans to actively engage with its XRP reserve. The company revealed it will deploy the assets through staking mechanisms and other yield-generating strategies. Additionally, Trident intends to form deeper ties within the Ripple ecosystem, signaling a long-term commitment that could include partnerships or collaborations with RippleNet participants or decentralized applications built on the XRP Ledger (XRPL).
The XRP reserve will be rolled out in the second half of 2025, contingent on regulatory clarity and favorable market conditions. Notably, Trident will fund this ambitious plan through a combination of stock issuance, strategic placements, and other financing instruments.
Market Reaction and Financial Backdrop
Despite the bold move, the market did not initially react favorably. Trident’s shares plunged by 37.6% on Thursday following the announcement. Investor concerns appear to stem from the company's financial performance rather than its crypto strategy. According to its latest financial disclosures, Trident reported a net income loss of $3.1 million as of December 2024. The company’s revenue declined a staggering 91.4% year-over-year, while operational expenses rose by over 100%, underscoring the financial strain it faces heading into this new initiative.
Trident share price on June 12 (Source: Google Finance)
While some analysts view the XRP reserve strategy as a bold pivot aimed at repositioning Trident within a fast-evolving digital economy, others have questioned whether the timing and scale of the reserve are appropriate given the company’s current financial standing.
Trident is not alone in its move to incorporate XRP into its corporate treasury. The past several months have seen a surge in similar announcements, highlighting a new trend where XRP joins the ranks of Bitcoin and Solana as a strategic crypto asset held by public and private companies alike.
Chinese AI firm Webus recently unveiled a $300 million XRP reserve, while renewable energy conglomerate VivoPower has plans to allocate $100 million. Health logistics company Wellgistics Health also announced a $50 million XRP treasury commitment. Together, these reserves signal a significant shift in institutional perception of XRP—from a utility token used primarily for payments to a strategic digital asset.
XRP’s growing role in corporate finance parallels earlier trends seen with Bitcoin and Solana. Bitcoin’s popularity as a corporate treasury asset began with Strategy (formerly MicroStrategy) in August 2020, a move that was followed by firms like Metaplanet and Semler Scientific. In 2025, Solana has gained momentum in the same space, with firms like DeFi Development (formerly Janover) and SOL Strategies actively building SOL reserves in anticipation of broader DeFi and NFT adoption on the network.
A New Era for Corporate Crypto Strategy?
As corporate treasuries begin to resemble diversified crypto portfolios, the emergence of XRP as a reserve asset represents a new frontier. With its roots in real-world payments, and growing support within regulatory discussions, XRP offers a different value proposition compared to Bitcoin’s “digital gold” narrative or Solana’s high-performance DeFi positioning.
Trident’s move may prove to be a defining case study in how Web3-native firms can integrate blockchain assets beyond speculative exposure. However, the steep share price drop and looming financial pressures mean that the company will need to execute flawlessly to win back investor confidence.
Whether Trident’s gamble will yield long-term strategic returns or serve as a cautionary tale remains to be seen—but one thing is clear: the age of blockchain-based corporate finance is accelerating, and XRP is staking its claim alongside Bitcoin and Solana.
Ripple and SEC Propose $125 Million Settlement Split to End Years-Long Legal Battle
The nearly five-year-long legal standoff between Ripple Labs and the US Securities and Exchange Commission (SEC) may finally be approaching resolution, as both parties submitted a joint motion on Thursday to the US District Court for the Southern District of New York outlining a proposed settlement.
In the motion, Ripple and the SEC asked Judge Analisa Torres to approve a plan that would dissolve the existing injunction against Ripple and allocate the $125 million penalty imposed in the case—$50 million would go to the SEC, while the remaining $75 million would be returned to Ripple.
“Doing so would promote efficiency and the policy favoring settlements, obviate the need for additional litigation in this Court and the Court of Appeals, and be consistent with the SEC’s recent actions in other crypto registration cases,” lawyers for both sides stated in the joint court filing.
Ripple’s Long Legal Road Nears Its End
The case began in December 2020, when the SEC sued Ripple, alleging the blockchain company had unlawfully raised $1.3 billion through the sale of its native cryptocurrency XRP, which the agency argued qualified as an unregistered security. The lawsuit instantly became one of the most high-profile crypto enforcement actions in SEC history, setting the tone for regulatory battles throughout the industry.
In a landmark ruling in July 2023, Judge Torres handed down a split decision. She ruled that Ripple’s programmatic sales of XRP, executed through blind bid processes on exchanges, did not constitute securities offerings. However, she found that Ripple’s direct institutional sales did fall under the purview of securities law, making the company liable for a $125 million penalty related to those transactions.
Since the court’s decision, the legal process has shifted focus from liability to remedy. Ripple CEO Brad Garlinghouse declared in March 2025 that the company’s legal fight with the SEC was “effectively over,” after the agency dropped its planned appeal.
However, procedural hurdles have continued to delay final closure. Just last month, Judge Torres rejected a request from the parties for an indicative ruling under Rule 60(b) of the Federal Rules of Civil Procedure, which governs relief from a final judgment. She noted that Ripple and the SEC had failed to meet the “heavy burden” required to vacate an injunction and emphasized that such actions should only be granted under “exceptional circumstances.”
Thursday’s filing attempts to clear that bar, citing significant developments in the regulatory landscape since the case began. Chief among them is the SEC’s recent policy shift under the Trump administration, which took office in January. Since then, the SEC has disbanded several ongoing investigations into crypto firms, dropped high-profile enforcement actions, and launched a new crypto-focused task force aimed at crafting a more pragmatic regulatory framework.
Implications for the Broader Crypto Landscape
If the court approves the proposed $50 million/$75 million split and lifts the injunction against Ripple, it would not only bring a long and expensive legal saga to a close but also signal a dramatic de-escalation of tensions between US regulators and major crypto firms.
Since the exit of former SEC Chair Gary Gensler earlier this year, the agency’s crypto posture has notably softened. Several cases against leading firms—including Coinbase, Binance, and Kraken—have either been scaled back or settled, and roundtable discussions are now guiding future regulatory frameworks instead of courtroom battles.
Ripple’s case has long been viewed as a litmus test for how securities law applies to digital assets, and any settlement would likely be referenced in future enforcement and compliance strategies across the crypto industry.
While XRP’s legal status remains partially resolved, the proposed compromise may allow Ripple to resume full-scale operations without further legal uncertainty—and reclaim significant funds to reinvest in its ecosystem and international expansion.
Judge Torres will now review the joint motion and determine whether the proposed settlement meets the legal standards necessary to amend the final judgment. If granted, it could mark the end of one of the most closely watched legal battles in cryptocurrency history.
Until then, both Ripple and the SEC appear aligned in wanting to put the past behind them and look forward to a regulatory environment that is clearer, more collaborative, and better suited to the evolving dynamics of the digital asset space.
