Ripple Labs is on an aggressive mission to dominate the financial infrastructure. Since early 2025, the company has spent nearly $4 billion acquiring brokerage, payments, custody and treasury management companies.
The wave started with the $1.25 billion purchase of brokerage Hidden Road, now rebranded as Ripple Prime. It was followed by a $200 million acquisition of payments platform Rail, a $1 billion acquisition of G Treasury, and most recently crypto wallet custodian Palisade.
Ripple’s strategy is clear. Instead of just working with traditional financial institutions, the company now buys them directly. The company is consolidating every layer of the financial stack, positioning itself as a central powerhouse for institutions looking to enter crypto.
The new wave of XRP government bonds
In addition to Ripple’s acquisitions, a new force is emerging in the XRP ecosystem: corporate bonds built around XRP accumulation.
Currently, there are 13 active XRP Treasury companies, including Evernorth ($1 billion), Trident ($500 million), Webus International ($300 million), and VivoPower ($121 million). These companies not only hold XRP, some deploy it to generate returns on the Flare network.
New entrants like Amazing AI plc (AAI) are expanding the model further, owning assets like BTC, ETH, XRP, SOL, and a gold-backed token. This trend could create long-term structural demand for XRP, independent of retail speculation.
In fact, Ripple-backed Evernorth is preparing to go public on the Nasdaq under the ticker XRPN, aiming to raise more than $1 billion solely to buy XRP on the open market.
Catalysts of the Future: ETFs and Upgrades
Ripple’s Swell Conference in New York highlighted several developments. The SEC faces a Nov. 14 deadline for Franklin Templeton’s spot XRP ETF, with prediction markets showing a greater than 99% chance of approval by year’s end.
If approved, JPMorgan analysts estimate that XRP ETFs could attract inflows of $3 billion to $8 billion in their first year. Combined with the rise of XRP government bonds, this could create a consistent and strong bid for the asset.
Meanwhile, the XRP Ledger is due for another major upgrade, a native lending protocol and new standards for tokenized assets called Multi-Purpose Tokens (MPTs). These upgrades are expected to transform XRP’s network into a hub for institutional DeFi.
A market at a crossroads
Despite strong fundamentals, the price of XRP has been slow to react. Broader macro headwinds, high interest rates, and Bitcoin’s dominance (which hovers around 60%) have kept altcoins under pressure.
At the same time, Solana’s competition is growing. Solana now processes more than $2 trillion in monthly stablecoin transfers, and Western Union recently selected Solana to launch its own stablecoin.
Still, Ripple’s consistent expansion and the rise of XRP-backed government bonds suggest that institutional conviction remains strong. The last months of 2025 will be decisive for XRP. ETF approval, new government bond inflows and tech upgrades could pave the way for the next big rally.
Trust CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict editorial guidelines based on EEAT (Experience, Expertise, Authoritativeness, Trustworthiness). Each article is fact-checked from reputable sources to ensure accuracy, transparency and reliability. Our review policy ensures unbiased evaluations when recommending exchanges, platforms or tools. We strive to provide timely updates on everything crypto and blockchain, from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the writer nor the publication accepts responsibility for your financial choices.
Sponsored and Ads:
Sponsored content and affiliate links may appear on our site. Ads are clearly marked and our editorial content remains completely independent from our advertising partners.