Ripple Labs Seeks $1 Billion Funding for XRP Accumulation

According to BlockBeats, Ripple Labs is leading an initiative to raise at least $1 billion through a special purpose acquisition company, whose specific name has not been disclosed. The funds are intended for the accumulation of digital tokens associated with XRP. The raised capital will be directed into a newly established digital asset reserve, with Ripple Labs also contributing a portion of its own XRP holdings.