The post XRP News Today: U.S. Insurance Firm Reliance Global Group Buys $17M in XRP appeared first on Coinpedia Fintech News
Reliance Global Group (Nasdaq: RELI), a U.S.-listed insurance and financial services firm, recently revealed in an SEC filing that it has added XRP to its Digital Asset Treasury (DAT).
The purchase, completed on September 30, follows earlier treasury investments in Bitcoin, Ethereum, and Cardano, reflecting Reliance’s strategy to build a diversified crypto portfolio focused on assets with strong fundamentals and real-world utility.
And it’s caught the attention of the crypto community.
Bill Morgan Shines the Spotlight
The news gained further traction after Bill Morgan, a well-known Ripple advocate and legal expert, highlighted the filing on X.
“Reliance Group Global has added XRP to its digital asset treasury. The rumor is XRP valued at $17 million,” Morgan wrote. He pointed out that the company’s SEC filing clearly states its interest in cryptocurrencies.
Morgan also hinted that Reliance’s move could connect to something bigger – possibly tokenized insurance policies or payment integrations using the XRP Ledger (XRPL), much like what other companies in travel and healthcare have explored with Ripple’s technology.
A Measured Approach to Crypto
Reliance isn’t a typical crypto company. It’s an established insurance player with platforms like RELI Exchange and 5MinuteInsure.com, which already use AI and automation to modernize insurance services.
According to Ezra Beyman, the company’s Chairman and CEO, adding XRP fits Reliance’s plan to carefully grow its digital asset treasury.
“XRP offers speed, efficiency, and proven value in global payments,” he said, adding that the company is focused on innovation, secure custody, and regulatory compliance while using blockchain to create long-term value for shareholders.
Why XRP Fits the Bill
For a firm that handles financial services, XRP makes sense. It’s fast, low-cost, and energy-efficient, settling transactions in just a few seconds.
Ripple’s global banking partnerships and XRP’s ability to act as a bridge for cross-border payments make it a natural fit for companies exploring digital payment systems.
The Bigger Picture
Reliance’s move stands out because it shows how traditional companies are beginning to see crypto as more than speculation. They’re looking at it as infrastructure for the future and a way to make traditional businesses faster, cheaper, and more efficient.
And while Reliance’s XRP purchase may seem small on paper, it points to a bigger trend: established institutions are finally stepping into crypto for utility and XRP continues to be at the center of that shift.
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FAQs
Companies are attracted to XRP for its speed, low-cost transactions, and proven utility in global payments, viewing it as strategic infrastructure for financial services.
For financial service firms, XRP is a strategic investment due to its efficiency in cross-border payments and growing integration within global banking systems.
A Digital Asset Treasury is a corporate reserve that holds cryptocurrencies like XRP as a strategic asset, aiming to diversify holdings and leverage blockchain technology.
The post XRP News Today: U.S. Insurance Firm Reliance Global Group Buys $17M in XRP appeared first on Coinpedia Fintech News
Reliance Global Group (Nasdaq: RELI), a U.S.-listed insurance and financial services firm, recently revealed in an SEC filing that it has added XRP to its Digital Asset Treasury (DAT). The purchase, completed on September 30, follows earlier treasury investments in Bitcoin, Ethereum, and Cardano, reflecting Reliance’s strategy to build a diversified crypto portfolio focused on …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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