XRP is at a critical turning point in 2025. What once was seen mainly as a digital asset for cross-border payments is now entering corporate treasuries, making ETF headlines, and attracting attention from policymakers. At the center of this transformation lies a new strategic narrative: XRP as a reserve asset. Multiple companies have announced plans to acquire XRP, while Ripple is executing acquisition strategies and expanding its financial infrastructure. These developments culminated at XRP Las Vegas 2025, which brought together the ecosystem to showcase how far the XRP ecosystem has come—and where it could be heading next.
XRP Las Vegas goes from strength to strength — it’s a true testament, showcasing the incredible people from around the world that make up the XRP community. Thankful to have spent this time with the XRP family, and hope to see many of you at @xrplapex in a couple weeks! https://t.co/aTiaWtVaBG
— Brad Garlinghouse (@bgarlinghouse) May 31, 2025
Corporations Begin Accumulating XRP as a Strategic Reserve
Companies around the world are shifting their treasury strategies to include digital assets, and XRP is becoming a key focus. VivoPower International announced a $121 million raise to build an XRP-based treasury model. The company also announced a strategic partnership with BitGo to facilitate its $100M XRP acquisition for treasury strategy. The initiative is backed by HRH Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia. Ripple’s former Asia CEO Adam Traidman has joined VivoPower’s advisory board to guide its transition to an XRP-centric treasury model. The company plans to divest other assets and focus solely on this strategy.
Webus International Limited, a mobility and transportation firm with operations across Asia, committed to purchasing up to $300 million in XRP. The company aims to use XRP for both treasury diversification and cross-border payouts to drivers. Their integration of XRP will reportedly streamline settlements with local and international partners. Their renewed partnership with Tongcheng Travel further expands their operational footprint across China and Southeast Asia.
🚨 300M XRP STRATEGIC RESERVE SOON?🚀
— Coin Bureau (@coinbureau) May 29, 2025
China’s Webus International Ltd. has announced a $300 million strategic financing plan to acquire $XRP, aiming to establish a reserve and integrate XRP blockchain in its global expansion. 🌎 pic.twitter.com/YLywQMlW6k
In the United States, Hyperscale Data—a subsidiary of Ault Alliance—announced its intent to purchase up to $10 million in XRP by year-end. The company is also launching an XRP-secured lending platform for public companies. Its goal is to provide an alternative borrowing system for NASDAQ- and NYSE-listed firms using XRP-backed smart contracts for settlement.
These treasury decisions are not speculative. They mirror the early stages of Bitcoin treasury accumulation seen in 2020–2021, but now reflect different motivations. These companies are treating XRP as a functional asset with built-in liquidity, reliable speed, and established legal clarity in U.S. secondary markets. Many have explicitly labeled their XRP holdings as part of a “strategic reserve,” suggesting a long-term view rather than a short-term hedge.
⚡️ LATEST: Hyperscale Data plans to buy up to $10M in $XRP by end of 2025 to expand crypto-based financial services via its Ault Capital Group subsidiary. pic.twitter.com/ID4BVadipY
— Cointelegraph (@Cointelegraph) May 29, 2025
Ripple’s Acquisition Strategy and Stablecoin Ambitions
Ripple’s recent acquisitions and its push into stablecoins reveal a much broader vision than simply expanding the XRP ecosystem. In 2025, Ripple is executing a deliberate strategy to position itself as a full-service digital asset infrastructure company. The company is no longer just focused on cross-border payments but is building the rails to become a central player in institutional-grade financial markets. Its two main vectors—acquisitions and stablecoin development—show how Ripple is bridging crypto with traditional finance at a global scale.
The Hidden Road Acquisition: Building an Institutional XRP Gateway
In early 2025, Ripple finalized the acquisition of Hidden Road, a U.S.-based prime brokerage firm. Hidden Road had already established itself as a major player in the digital asset OTC and derivatives market, serving hedge funds, asset managers, and institutional trading desks. Ripple acquired the company for $1.25 billion and quickly began integrating its infrastructure into Ripple Markets, Ripple’s institutional liquidity division.
The Hidden Road acquisition serves several strategic purposes. First, it gives Ripple an SEC- and CFTC-registered entry point into U.S. capital markets. This is especially important for offering cash-settled XRP OTC derivatives, which allow large financial institutions to get exposure to XRP without needing to custody the asset. This approach mirrors what major trading firms do with Bitcoin and Ethereum futures but tailored specifically for XRP’s use case as a cross-border liquidity tool.
Second, Hidden Road provides Ripple with direct access to U.S. institutional counterparties who previously may have been hesitant to work with crypto firms lacking regulatory infrastructure. Through this acquisition, Ripple can now offer regulated lending, credit intermediation, and settlement using XRP as the underlying asset. It transforms XRP from a retail-focused digital currency into a core part of professional trading infrastructure.
Finally, the move enhances Ripple’s global footprint. Hidden Road already had an international client base and compliance procedures for major financial jurisdictions, including the U.K., Singapore, and the EU. By plugging XRP into this ecosystem, Ripple can facilitate global liquidity access for corporate clients, remittance providers, and even banks, using infrastructure already trusted by regulators.
The Attempt to Acquire Circle: Ripple’s Ambition to Control a Leading Stablecoin
In parallel to the Hidden Road deal, Ripple reportedly made multiple acquisition offers to Circle, the company behind USDC, the second-largest dollar-backed stablecoin. Sources close to the negotiations indicated that Ripple’s bids reached up to $4-5 billion before Circle declined, preferring to continue toward its planned IPO.
If the deal had succeeded, it would have instantly given Ripple direct control over a $30+ billion stablecoin used by exchanges, fintech apps, and financial institutions around the world. More importantly, it would have aligned USDC with RippleNet, XRP Ledger, and Ripple’s CBDC infrastructure.
🔥 NEW: RIpple is said to have offered $4b to $5b for Circle.
— Cointelegraph (@Cointelegraph) April 30, 2025
The bid was rejected. pic.twitter.com/xA6ZTpKNwW
The rationale for the acquisition was clear: stablecoins are essential infrastructure for modern financial rails. They are the most liquid and widely used fiat representations in crypto. By acquiring USDC, Ripple would not only have dominated settlement rails but also positioned itself as a neutral bridge between stablecoin liquidity and national central bank projects.
The failed acquisition attempt reveals Ripple’s aggressive strategy to own more verticals in the crypto economy. It also shows that Ripple is aiming not just to support stablecoins on XRPL, but to operate and govern one at global scale.
The Launch of RLUSD: Ripple’s Native Stablecoin Play
The launch of RLUSD holds deep strategic importance:
- Liquidity Amplification: RLUSD allows developers and enterprises to use a dollar-denominated asset alongside XRP within DeFi applications, payment protocols, and treasury systems. This increases total liquidity on XRPL and gives users optionality without leaving the network.
- Cross-Chain Expansion: By issuing RLUSD on Ethereum as well, Ripple positions itself as a multi-chain infrastructure provider, not just an XRPL-native player. This expands the reach of Ripple products while reinforcing XRP’s role as a liquidity bridge.
- Regulatory Positioning: RLUSD provides Ripple a compliant tool that can be integrated into CBDC pilots, corporate treasuries, and fintech apps—especially in countries where XRP still faces uncertainty. Stablecoins offer a parallel path to market access.
RLUSD may also serve a role as a liquidity pair in XRPL AMM pools, helping to bootstrap utility and attract early capital. Additionally, the stablecoin could support lending and collateralization in XRP-based financial products built through Ripple Markets or third-party DeFi protocols.
Why This Strategy Matters
Ripple’s twin strategy of acquisition and stablecoin expansion underscores a shift in how the company operates. It is no longer positioning itself as a single-token company but as a full-spectrum digital finance platform.
- With Hidden Road, Ripple can now support institutional entry points into XRP markets, using regulated lending and OTC tools.
- With RLUSD, Ripple offers a stable, compliant dollar layer that enables dollar-denominated finance on-chain, without relying on external issuers.
- And through its attempted acquisition of Circle, Ripple demonstrated that it’s not afraid to challenge the biggest players in crypto finance to accelerate its roadmap.
Each move contributes to a broader strategy: make XRP the native asset of a high-speed, regulation-compliant settlement system that spans stablecoins, CBDCs, and tokenized real-world assets. That vision is no longer theoretical—it’s being executed in real time across jurisdictions and market segments.
XRP ETF Progress: Futures Launched, Spot Under Review
2025 has also seen progress on the ETF front. Several XRP futures ETFs are now live in the U.S. and trading actively. Volatility Shares launched XRPI on the Nasdaq in May. The fund invests in XRP futures contracts and has seen growing interest among traders seeking regulated exposure. Teucrium launched a 2x leveraged XRP ETF shortly after. ProShares added three new funds that include long and inverse exposure to XRP futures.
These futures-based ETFs allow investors to track XRP’s performance through regulated products without direct crypto custody. Their launch signals a step forward in mainstream acceptance of XRP-based investment vehicles.
At the same time, spot XRP ETFs are now under active review by the SEC. WisdomTree, Franklin Templeton, and Grayscale have all submitted filings. Grayscale has proposed converting its XRP Trust into a spot ETF. The SEC has up to 240 days to respond, with final decisions expected by October 2025. Market prediction platforms place the odds of approval at 89% by the end of the year. This growing momentum reflects the belief that XRP, thanks to legal clarity, is one of the most likely candidates for ETF approval after Bitcoin and Ethereum.
The Ripple Lawsuit: Nearing Resolution in a New Regulatory Environment
The Ripple vs. SEC lawsuit has defined much of XRP’s recent history. In 2023, Judge Analisa Torres ruled that while Ripple’s institutional XRP sales violated securities laws, secondary market sales did not. The court ordered Ripple to pay $125 million in penalties. In 2025, Ripple and the SEC proposed a revised settlement of $50 million, but Judge Torres rejected the joint motion due to procedural issues. A final decision is expected around June 15, 2025.
Paul Atkins, who became SEC Chair in April 2025, has introduced a more pragmatic regulatory tone. In a recent SEC taskforce meeting, Atkins reportedly said, “They are doing their best to resolve the case as swiftly as possible, and there should be a solution by the end of this week.” His position aligns with his broader comments that enforcement should not be the default method for shaping crypto policy. Legal experts like Bill Morgan argue that XRP now has more legal clarity than even Bitcoin.
If the final judgment arrives soon and aligns with prior rulings, it could pave the way for additional regulatory approval, such as spot ETF listings and global expansion by Ripple and other XRP ecosystem players.
XRP Las Vegas 2025: A Cultural and Strategic Milestone
XRP Las Vegas 2025 served as both a celebration and inflection point for the XRP ecosystem. Held at the MGM Grand, the event brought together more than 1,000 developers, analysts, executives, and retail participants. Fully community-led, it showcased the XRPL ecosystem’s growth while strengthening the connection between Ripple, the broader XRP community, and the industry at large.
Ripple’s Leadership Speaks Directly to the Community
Ripple CEO Brad Garlinghouse delivered a keynote that reinforced Ripple’s long-term commitment to the XRP ecosystem. He stated, “Ripple is committed to making XRP the most trusted, useful, and liquid digital asset on the planet.” His remarks also called for unity across blockchain communities. “Bitcoin is not the enemy… it’s not a zero-sum game,” he added, positioning Ripple’s mission as collaborative rather than competitive.
Ripple CTO David Schwartz took the stage to share updates on the XRP Ledger’s roadmap. He focused on technical enhancements such as the Hooks smart contract protocol, the native AMM module, and support for tokenized assets. Schwartz’s talk emphasized performance, openness, and scalability—core values for XRPL developers and validators.
JUST IN: Ripple CTO David Schwartz Explaining WHY Ripple Launched A “Ripple Stablecoin” at XRP Las Vegas !!@JoelKatz #XRPLasVegas2024 #XRPL #Ripple #Stablecoin pic.twitter.com/rb3l99JCsc
— Good Morning Crypto (@AbsGMCrypto) May 4, 2024
The Cufflink Presentation: A Moment of Community Recognition
One of the most memorable community moments of the conference came from Tyler Boone, founder of The TI Project. On behalf of the XRP community, Boone gifted custom XRP cufflinks to Brad Garlinghouse and David Schwartz. These cufflinks were engraved with the XRP logo to honor their leadership and public advocacy.
The gift included a printed card listing the community contributors who helped fund the project. The message read, “You’ve fought hard for the XRP community, and the XRP community would like to thank you.” This gesture underscored the bond between Ripple’s leadership and its supporter base. The presentation was shared widely on social media, with Boone’s video capturing the handoff viewed thousands of times.
Brad is one of the real ones. He truly loves the community and wants to see us thrive. In his position he could easily be detached and “above” it all. But he’s not. He’s one of the most authentic and genuine people I’ve ever met! pic.twitter.com/5cPj9XAvW3
— tboone8 (@tboone_8) May 31, 2025
Eleanor Terrett Adds Regulatory Depth
Eleanor Terrett, a respected crypto journalist and policy analyst, joined XRP Vegas as a featured speaker. Known for her reporting on SEC actions and U.S. crypto policy, Terrett contributed to discussions focused on regulation, stablecoins, and the legal frameworks shaping XRP’s future. Her presence gave attendees a broader view of the policy forces affecting Ripple and XRPL growth, especially in light of the ongoing SEC lawsuit.
Terrett’s commentary helped contextualize how XRP’s regulatory position in the U.S. compares to evolving frameworks abroad. Her insights complemented those of legal experts and community advocates seeking clarity in global crypto markets.
Shared the stage with some legends at @XRPLasVegas 2025 talking all things regulation and policy.
— Eleanor Terrett (@EleanorTerrett) May 30, 2025
Thank you to all the #XRPers for coming out! pic.twitter.com/G36NN50RMJ
Project Launches and Developer Workshops
The event spotlighted multiple XRPL-native projects. BPM Wallet showcased its blockchain ticketing platform by powering the entire event’s ticketing infrastructure. Other projects like Monerex, Xrpfy, XenDex, and CryptoTradingFund demoed real-world applications across payments, analytics, DeFi, and rewards systems.
Beyond announcements, developer education played a major role. Workshops ran on topics like XRPL Hooks, DID integrations, payment channels, and tokenized finance. Led by teams from XRPL Labs, RippleX, and independent developers, these sessions gave builders practical tools to innovate on XRPL.
Why XRP Vegas 2025 Mattered
XRP Vegas 2025 marked a convergence between Ripple’s executive vision and the decentralized community’s grassroots effort. It validated XRP’s growing momentum across cultural, technical, and financial fronts. The event showed that XRPL is not only expanding in functionality but also maturing in public support and institutional relevance.
Moments like the cufflink presentation symbolized the mutual respect shared by builders, leaders, and users. As XRP continues to evolve as a strategic reserve asset and financial infrastructure layer, the relationships and clarity built in Las Vegas will likely play a key role in its path forward.
What Comes Next for XRP?
Several developments are set to shape the next phase of XRP’s growth. Ripple’s RLUSD is expected to continue to expand stablecoin functionality on XRPL. The Ripple IPO remains a possibility, especially if the SEC lawsuit resolves favorably. ETF applications are also progressing, with a decision expected on WisdomTree’s spot XRP ETF by fall 2025.
Meanwhile, more corporations may follow the lead of VivoPower and Webus, treating XRP as a strategic reserve. This trend could broaden to include sovereign interest or regional central banks, especially as liquidity tools diversify globally.
XRP’s infrastructure now includes prime brokerage, lending, OTC settlement, DeFi tooling, and developer innovation. This base supports the asset’s continued evolution into a neutral cross-border settlement instrument with growing mainstream and institutional relevance.
XRP in 2025 and Beyond
2025 represents a shift for XRP—from a regulatory battleground to a strategic global asset. Corporate treasuries are now including XRP. ETF markets are opening up. Ripple is expanding into brokerage, stablecoins, and institutional liquidity. XRP Las Vegas captured this shift culturally, but the story continues to unfold worldwide.
As legal clarity deepens and real-world use cases expand, XRP’s positioning as a trusted, liquid, and strategic reserve asset becomes increasingly credible. Whether in corporate finance, capital markets, or developer circles, the XRP ecosystem now demands a closer look.
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