Ripple Raises $1 Billion From SPAC to Build XRP Asset Treasury

Ripple Labs’ Bold Plan

Ripple Labs, the blockchain payments company behind the XRP token, is reportedly in the final stages of raising at least $1 billion through a Special Purpose Acquisition Company (SPAC) structure — a strategic move to establish a digital asset treasury dedicated to accumulating XRP and related liquidity assets.

If successful, it would be one of the largest SPAC-driven capital raises in crypto history, signaling Ripple’s ambition to bolster on-chain liquidity and its corporate treasury base at a time when institutional interest in digital assets is accelerating globally.

According to sources familiar with the matter, the planned SPAC raise will be used to create the Ripple Digital Treasury, a structured fund designed to:

• Accumulate XRP and maintain a strategic reserve for cross-border payment liquidity.

• Support ecosystem expansion, including stablecoin liquidity, remittance corridors, and enterprise DeFi applications.

• Facilitate market interventions to stabilize XRP volatility during institutional payments.

This approach aligns with Ripple’s broader mission of positioning XRP not just as a medium of exchange for global payments, but also as a reserve-grade digital asset that supports corporate liquidity management—similar to how nations manage gold and foreign exchange reserves.

A new wave for Defi?

Ripple’s pivot stems from a 2023 truce with the SEC—paying $125 million without admitting fault—freeing up war chests for criminal activity. The company currently holds 40 billion XRP in escrow (45% of the supply), releasing 1 billion each month for ecosystem use, but this treasury flips the script: Active accumulation to protect against sell-offs and automatic adoption. With corporations hoarding 5% of the BTC supply, XRP’s utility in cross-border payments (processing $10 billion annually) makes it a profitable investment—up 150% year-to-date to $2.23.

This SPAC is similar to Metaplanet’s $616 million SOL deal, but with Ripple’s advantage, XRPL’s 1,500 TPS and AMM upgrade has attracted DeFi’s TVL, currently at $1.2 billion. Concerns about dilution if SPACs flood the market, but proponents point to the reflexivity: More XRP in the treasury would tighten supply, driving up the price to buy more.

Impact on the market and SPACs

A $1 billion treasury-backed accumulation program could reduce circulating supply, cementing Ripple’s long-term control over XRP’s liquidity structure. However, it could also raise questions about the decentralization of the market, as Ripple’s holdings would increase significantly.

Ripple’s SPAC-backed treasury could serve as a liquidity fulcrum for cross-border payments, potentially integrating with banks and fintech platforms via RippleNet and XRP Ledger (XRPL). This could improve transaction speeds and reduce friction for institutional partners.

By structuring the fund through a regulated SPAC, Ripple demonstrates compliance and transparency, aiming to attract mass market investors — a stark contrast to the corporate venture capital or token sale models common in crypto fundraising.

This initiative puts Ripple on par with Circle, Tether, and Binance in the race to control digital liquidity infrastructure. However, while other companies dominate the stablecoin market, Ripple is carving out a niche in the tokenized payment liquidity space by using XRP as the underlying asset.

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