8 Companies are Quietly Accumulating XRP in Their Treasuries — And You’d Never Guess Who

In 2026, XRP, traditionally viewed as a niche settlement token linked to XRP Ledger, quietly made its way into the corporate treasuries of diverse companies across industries.

Here are eight public firms that are adopting XRP as a reserve asset. Many aim for cross-border payments, yield generation, and crypto diversification.

Now, let’s explore these further.

The Eight XRP DATs

As of January 2026, eight companies have publicly disclosed XRP treasury strategies, either active or announced. Collectively, these commitments exceed $2 billion, marking one of the largest coordinated corporate digital asset treasury movements outside Bitcoin.

1. Evernorth Holdings (XRPN) — Over $1 Billion (Active)

Evernorth represents the most significant XRP DAT to date.

Following its SPAC merger, Evernorth disclosed over $1 billion allocated to the XRP treasury strategy. Unlike passive exposure vehicles, Evernorth’s structure enables:

• Permanent balance-sheet ownership.
• Active treasury management.
• Yield generation via lending and liquidity provisioning.

By holding XRP directly rather than through ETFs, Evernorth removes a substantial quantity of tokens from market circulation, creating a long-term supply sink.

This strategy closely parallels Strategy’s Bitcoin accumulation model, but applied to an asset optimized for payments and settlement.

2. Trident Digital Tech (TDTH) — $500 Million (Announced)

Trident Digital Tech announced a $500 million XRP DAT strategy, signaling institutional-scale conviction rather than speculative positioning.

While details of custody and deployment have not yet been fully disclosed, the size alone places Trident among the largest corporate XRP holders once executed.

Importantly, this announcement came after regulatory clarity surrounding XRP, highlighting the role compliance certainty plays in treasury adoption.

3. Webus International (WETO) — $300 Million (Announced)

Webus International committed $300 million toward an XRP treasury initiative, positioning XRP as a strategic reserve asset rather than an operational token.

For mid-sized public companies, this level of exposure indicates that XRP is being evaluated alongside traditional treasury instruments, not merely as a crypto allocation. The move underscores growing confidence in XRP’s regulatory standing and institutional custody infrastructure.

4. Vivopower (VVPR) — $100 Million (Announced)

Vivopower’s $100 million XRP DAT announcement reflects a broader trend of energy, infrastructure, and industrial firms exploring digital assets as treasury diversification tools.

Rather than seeking price volatility, these firms are increasingly focused on assets that can:

• Settle globally
• Interface with tokenized real-world assets
• Support compliant on-chain finance

XRP’s integration with regulated payments and tokenization frameworks makes it particularly attractive in this context.

5. Wellgistics (WGRX) — $50 Million (Announced)

Wellgistics announced a $50 million XRP treasury allocation, representing a smaller but still meaningful corporate commitment.

What matters is not just size, but intent. These allocations are not day-trading positions; they are balance-sheet decisions made under disclosure obligations, signaling confidence in XRP’s long-term utility and market structure.

6. Nature’s Miracle (NMHI) — $20 Million (Announced)

Nature’s Miracle’s $20 million XRP DAT highlights how treasury adoption is not limited to mega-cap firms.

For smaller public companies, digital asset treasuries provide:

• Exposure to programmable liquidity
• Optionality for tokenized finance
• Potential yield opportunities

XRP’s low transaction costs and institutional-grade settlement make it accessible even at smaller allocation sizes.

7. Hyperscale Data Inc. (GPUS) — $10 Million (Active)

Hyperscale Data represents one of the active XRP DATs already in execution, with $10 million allocated.

While modest in scale, active DATs are structurally more important than announcements. They demonstrate operational readiness, custody arrangements, accounting treatment, and governance frameworks already in place.

8. Gumi (3903.T) — $17 Million (Active)

Japanese firm Gumi disclosed $17 million in active XRP treasury exposure, reinforcing XRP’s growing relevance in Asian markets.

Japan’s regulatory clarity around digital assets has historically enabled earlier institutional adoption. Gumi’s participation signals that XRP DATs are not geographically isolated, but globally distributed.

Bonus Example: Theoretically Ripple itself

Though not a public corporation in the traditional sense, Ripple Labs holds roughly 40.7 billion XRP, which amounts to 41% of the global supply.

Should Ripple ever adopt a treasury holding strategy, similar to Strategy’s Bitcoin approach, the market impact could be massive.

• Institutional signaling: Ripple formally treating XRP as a reserve asset could legitimize similar moves by financial institutions and corporations worldwide.
• Supply dynamics: With Ripple already controlling such a large portion of XRP, locking it into treasury reserves could tighten supply, potentially impacting price dynamics.
• Narrative shift: Ripple could transition from simply being the creator of XRP to becoming its largest and most visible corporate holder, changing how investors and regulators perceive its role.

While purely hypothetical today, this scenario highlights the growing conversation around XRP’s evolution from a utility settlement token to a full-fledged corporate-grade asset class.

Why XRP and Why Now?

Data shows that investment in altcoin treasury holdings grew from $200 million in early 2025 to more than $16 billion by January 2026, including XRP, excluding ETH.

• Rising corporate crypto strategy: Starting in April 2025, about 60 public firms began integrating crypto treasury models into their operations, some allocated billions to BTC, ETH, and XRP, driven by broader institutional interest and regulatory developments.
• Diversification beyond BTC and ETH: While Bitcoin and Ethereum still dominate corporate treasuries, altcoins like XRP are gaining traction.
• XRP’s unique positives: Companies adopting XRP cite benefits like low-fee settlement, rapid global liquidity, and compatibility with RippleNet rails. Some also plan to stake or lend tokens for yield, something rarely seen with gold or fiat reserves. 

It’s important to note that the XRP Ledger does not support native staking like proof‑of‑stake blockchains such as Ethereum.

Instead, yield generation with XRP typically comes through third‑party solutions—for example, lending programs with institutional partners, providing liquidity on exchanges, or wrapping XRP on DeFi networks like Flare.

These methods allow companies to earn returns on their XRP holdings, but unlike native staking, they are off‑chain strategies rather than built‑in features of the XRP Ledger.

The Strategic Implications of Holding XRP in Treasury

• Market signaling: When unexpected companies, like agritech or biotech, announce XRP treasury allocations, it signals growing acceptance among institutional decision-makers.
• Cross-border treasury centralization: Firms with global subsidiaries could use XRP to streamline intercompany transfers, improving cash pooling and working capital efficiency.
• Employee & partner incentives: Some companies explore crypto-denominated bonus structures or reward mechanisms, although this is still emerging and jurisdiction-dependent.
• Liquidity & transparency: Some firms (e.g., Hyperscale Data) commit to transparency, disclosing weekly token metrics, helping set standards for corporate crypto governance.
• Hedging against traditional currency risk: In certain cases, XRP could act as a hedge against fiat currency depreciation, although this is controversial given crypto volatility.
• Integration with DeFi & tokenized assets: XRP’s potential use in decentralized finance ecosystems could increase its utility over time, making early treasury adoption strategically advantageous.
• Future-proofing through CBDC interoperability: As central bank digital currencies (CBDCs) evolve, XRP could play a role in interoperable settlement layers, placing early adopters ahead of competitors.

Regulatory & Accounting Considerations

• Accounting treatment: Most jurisdictions currently treat XRP as an intangible asset. This means it is subject to impairment testing, not fair value accounting (unless under IFRS revaluation models).
• Regulatory clarity: Jurisdictions differ on how XRP is classified (security vs. commodity vs. payment token). Uncertainty can create compliance complexity and potential tax implications.
• AML/KYC requirements: Treasury operations using XRP must comply with stringent AML (Anti-Money Laundering) and KYC (Know Your Customer) protocols when transacting.

The Role of the CLARITY Act in Defining XRP’s Status

The Digital Asset Market CLARITY Act (H.R. 3633) establishes a framework for classifying digital assets based on their underlying blockchain functionality and degree of decentralization. It distinguishes between digital commodities, regulated by the Commodity Futures Trading Commission (CFTC), and digital assets sold under investment contracts, which remain under Securities and Exchange Commission (SEC) oversight.

A digital commodity is defined as a blockchain-based asset whose value is primarily derived from the utility and function of its network rather than reliance on managerial or entrepreneurial efforts of a single entity. The Act introduces a “maturity” standard, where sufficiently decentralized blockchain ecosystems qualify their native tokens as commodities.

This is significant for XRP. The XRP Ledger operates as a decentralized payment and settlement network, with XRP functioning as its native asset for transaction settlement and liquidity provisioning. 

In the SEC v. Ripple case, a U.S. federal court ruled that programmatic (secondary market) XRP sales were not securities transactions because buyers had no reasonable expectation of profit based on Ripple’s efforts. Only certain institutional sales were deemed securities transactions.

Under the CLARITY Act, assets like XRP, when used primarily as a medium of exchange or settlement layer within a decentralized blockchain, would likely be classified as digital commodities. This classification would provide regulatory certainty for XRP in treasury operations and global payment infrastructure, reducing compliance ambiguity and enabling broader institutional adoption.

Key Risks to Watch

• Volatility risk: XRP’s price swings could sharply impact perceived reserve value—especially if firms leverage or sell to fund operations.
• Regulatory uncertainty: While legal clarity is improving, XRP still faces litigation and regulatory scrutiny in several jurisdictions.
• Market liquidity concerns: Large XRP reserve buy-ins could affect market depth, especially if these firms liquidate tokens rapidly.

What’s Next?

• More sectors may join: If crops, biotech, and data firms find strategic value in XRP, other industries could follow.
• Standard-setting: Transparent reporting and token lock-ups may become standard for corporate treasury programs.
• Ripple’s next move: If Ripple itself adopts treasury holding, the narrative could shift dramatically.
  

Conclusion

XRP is no longer just a settlement token, it is quietly becoming a treasury asset for select corporations.

From agriculture tech and biotech to data firms, these eight entities illustrate the early wave of XRP adoption. More companies may follow suit as regulations mature and XRP’s use cases diversify.

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About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.

Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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