The move would position Ripple as the dominant player in XRP treasury operations, a space that has seen limited activity compared to Bitcoin and Ethereum.
The transaction details remain under discussion and could shift before finalization, sources told Bloomberg. Ripple Labs has not provided immediate comment on the reported plans. The move would position Ripple as the dominant player in XRP treasury operations, a space that has seen limited activity compared to Bitcoin and Ethereum.
Ripple maintains an additional 37 billion tokens in on-ledger escrow, which releases monthly. The company sells portions of these released tokens while returning the remainder to escrow. This escrow mechanism has been a long-standing part of Ripple's XRP distribution strategy.
XRP ranks as the world's fifth-largest cryptocurrency by market capitalization. The token traded at $2.35 following a 3.33% decline amid broader market weakness.
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