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Reliance Global Group Inc. (RELI) announced it completed a purchase of XRP, adding the cryptocurrency to its Digital Asset Treasury initiative. The purchase follows earlier treasury acquisitions of Bitcoin, Ethereum, and Cardano.
XRP serves as the native token of the XRP Ledger and operates within the Ripple payment network. The cryptocurrency ranks as the fourth-largest by market capitalization and functions as a bridge asset for international payments.
The XRP Ledger processes transactions in 3-5 seconds with fees of fractions of a cent, according to the company. The network handles over 1,500 transactions per second and uses minimal energy compared to proof-of-work blockchains. Ripple maintains partnerships with global banks and payment providers for cross-border settlements.
"Our strategy is to carefully build a treasury of digital assets with both strong fundamentals and real-world utility," said Ezra Beyman, Chairman and CEO of Reliance Global Group. "XRP offers speed, efficiency, and proven value in global payments."
Reliance operates in insurance and financial services with platforms including RELI Exchange and 5MinuteInsure.com. The company positions its digital asset holdings as strategic tools rather than speculative instruments, emphasizing secure custody, oversight, and regulatory compliance.
The information is based on a company press release. Forward-looking statements in the release include expectations about digital asset strategy advancement and long-term shareholder value, subject to market volatility and regulatory changes.