XRP is gaining traction among corporations, with companies like Flora Growth and Hyperscale Data reporting holdings in SEC filings, indicating a growing institutional interest in Ripple’s cryptocurrency.
-
Flora Growth’s SEC filing confirms XRP is part of its digital asset portfolio alongside Solana and Ethereum.
-
Hyperscale Data to start publishing monthly XRP asset reports as part of a $10 million acquisition plan.
-
Webus International announces plans for a $300 million XRP treasury, expanding institutional exposure to Ripple’s token.
Discover how corporate interest in XRP is rising, with companies like Flora Growth and Hyperscale Data reporting significant holdings. Learn more about this trend today!
What is Driving Corporate Interest in XRP?
Corporate interest in XRP is on the rise, as evidenced by recent SEC filings from companies like Flora Growth. These filings indicate that XRP is now a part of their digital asset portfolios, enhancing their balance sheets.
How Are Companies Integrating XRP?
Flora Growth, a U.S.-based company, disclosed through a Form 10-Q filing that it now holds XRP alongside Solana and Ethereum. This strategic acquisition aims to improve its financial structure and market positioning.
Hyperscale Data to Release Monthly XRP Holdings Reports
In a separate disclosure, Hyperscale Data filed a Form 8-K stating its intention to begin monthly updates on its digital asset reserves. These reports will include XRP holdings. On May 28, Hyperscale also announced that its subsidiary, Ault Capital Group Inc., is set to invest $10 million into XRP as part of its digital asset strategy.
Webus International, headquartered in China and operating in the automotive and hospitality sectors, has also taken a significant step. The company submitted a Form 6-K in June to the U.S. Securities and Exchange Commission, outlining plans to establish a $300 million corporate treasury focused on XRP.
More Firms Add XRP Exposure
Other companies are following a similar approach. London-based renewable energy firm VivoPower and pharmaceutical distributor Wellgistics have also disclosed moves related to XRP. These developments signal increasing corporate interest in integrating Ripple’s token into financial strategies.
XRP has been added to the BDACS platform, providing custody services for institutional clients. This integration supports Ripple’s continuing focus on the Korean market. The asset is now also accessible on Korea’s largest trading platforms, including Upbit, Coinone, and Korbit.
Amid these announcements, market activity has reflected rising interest. A 20 million XRP transaction, valued at over $60.5 million, was recorded moving from South Korea’s Upbit exchange to an unidentified wallet. XRP was trading at $2.97 at the time of the transfer.
Key Takeaways
- Flora Growth and Hyperscale Data are leading the charge in corporate XRP adoption.
- Webus International plans a significant treasury investment in XRP, indicating growing institutional confidence.
- Market activity reflects rising interest, with large transactions being recorded.
Conclusion
The growing corporate interest in XRP signifies a shift in how digital assets are perceived in traditional finance. As more companies integrate XRP into their financial strategies, the cryptocurrency’s role in the market is likely to expand, paving the way for further institutional adoption.
