rewrite this title XRP Treasury Companies Are Coming With These Firms Already Adding To Balance Sheet | Bitcoinist.com

More companies are beginning to add XRP to their corporate treasury balance sheets, signaling a shift in how public firms view the cryptocurrency. As the tide shifts in XRP’s favor, these companies are beginning to recognize its value not only as a utility token but also as a treasury asset. These developments come as XRP gains traction for its utility in real-time payments and blockchain-based financial infrastructure. 

XRP Adoption Grows Among Corporate Treasuries

A recent update from crypto market analyst Bill Morgan, based on US SEC filings and corporate disclosures, reveals that at least two companies have either already added or announced the intention to add XRP to their balance sheets. These companies, Floral Growth Corp and Hyperscale Data Inc., are showing a strong interest in XRP, signaling growing institutional confidence in the digital asset. 

Flora Growth Corp, a publicly traded company, disclosed in its Form 10-Q filing that it holds XRP, along with Solana (SOL) and Ethereum (ETH), as part of its cryptocurrency portfolio. According to statements on the company’s official website, the acquisition of these assets was done explicitly to strengthen its balance sheet. 

Meanwhile, Hyperscale Data Inc. has taken an even more aggressive stance. Morgan notes that in a recent Form 8-K filed with the US SEC, the company announced it will begin publishing monthly reports on its digital asset holdings, starting with its initial XRP positions this month. This follows a May 28 announcement by its subsidiary Ault Capital Group Inc. (ACG), which confirmed its intent to acquire $10 million worth of XRP. 

Notably, the company emphasized XRP and the XRP Ledger’s (XRPL) potential to support real-time payment networks, cross-border settlement systems, and decentralized financial applications. According to ACG’s announcement, the acquisition is part of a broader effort to integrate modern digital asset solutions into its next-generation financial service model. 

The announcement also specifically highlighted XRP’s enterprise-grade design, low-cost, and secure transactions as key reasons for the planned acquisition. Morgan further states that ACG sees XRP as a tool for enhancing liquidity and blockchain-based financial products. 

Institutional Momentum Grows Amid Regulatory Clarity

Interestingly, the growing demand for XRP among corporate treasuries comes amid a backdrop of evolving regulatory clarity. This shift in its regulatory environment has likely contributed to institutions’ renewed willingness to engage with the cryptocurrency. Although Morgan notes that he is merely reporting information from the filings and has not conducted an in-depth analysis of the companies, the timing aligns with improved market sentiment following recent developments in the Ripple and SEC case. 

According to a recent report from the X social media account ‘XRP Update’, former SEC lawyer Marc Fagel notes that the regulatory agency is expected to vote imminently to dismiss its appeal in the Ripple case, potentially as early as August 7. If confirmed, it would mark one of the most significant legal turning points in XRP’s history, removing a longstanding cloud of uncertainty that has hovered over the asset for years.

Featured image from iStock, chart from Tradingview.com

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