The list of companies embracing Ripples XRP for treasury holdings is steadily growing.

Only a few contenders have utilized this strategy so far, but with easing regulations and increasing adoption, the trend could intensify soon.

Institutional Interest Growing

Natures Miracle Holding Inc., a publicly traded company (ticker: NMHI) specializing in farming technology, announced on Wednesday that it is establishing a corporate XRP treasury program with an initial value of up to $20 million.

Proceeds from the equity financing from GHS Investments will be used to fund the purchase of XRP and capital needs, for which a Registration Statement on Form S-1 was recently declared effective by the Securities and Exchange Commission (SEC).

This strategic play places the company as one of the first publicly traded firms to adopt the asset as a treasury strategy. The focus will be on acquiring XRP tokens as long-term reserves, deploying a staking mechanism to generate yield, and participating in the Ripple ecosystem.

To further support the move, Natures Miracle will finance the purchase of the token through a portion of the equity financing that will likely be issued from the S-1 statement, when it decides to issue securities under that financing structure. Subsequently, adoption can be further increased by a combination of equity issuance, strategic placements, and structured financing instruments.

James Li, CEO of Natures Miracle, commented on the news:

With President Trumps signing of the GENIUS act, more institutions are adopting crypto currency as a core treasury holding. We see the huge potential of XRP as it improves the speed and reduce the cost of cross-border payments.

Many established financial institutions, like Banco Santander and American Express, are already involved with it. We believe that the adopting of this Treasury program will benefit our shareholders and the Company.

At the time of printing, the companys stock is trading at $0.11, up over 110% in the day following the announcement, according to data from Google Finance.

The asset of choice for the treasury, the second-largest altcoin, XRP, may have declined by about 10% over the past 24 hours due to a series of liquidations and selloffs, but it is still up 395% for the year, according to current data from CoinMarketCap.

Other Entrants in The Movement

The rising adoption and corporate demand for XRP can be observed across both exchange-traded funds (ETFs) and treasury strategies, with the latter gaining traction recently.

VivoPower, a sustainable energy solutions company specializing in battery technology, solar energy systems, and other power solutions, very recently joined the treasury race, planning to sell 20 million company shares, valued at $6.05 each, to raise $121 million for the purchase of the asset.

Earlier this year, Wellgistics Health, Inc., a holding company for various existing and planned businesses centered around pharmaceuticals and healthcare services, also disclosed its plans for a strategic reserve.

The initiative is supported by a $50 million Equity Line of Credit (ELOC), with the revenue to be potentially used to develop and unlock programmable liquidity and on-demand financial infrastructure.

A notable mention here would also be Trident, a company in Singapore that provides commercial and technological digital solutions, which shared plans for a $500 million financing plan for an XRP treasury.