Nature's Miracle Holding Inc. (OTCQB:NMHI), a publicly listed vertical farming technology firm, on Wednesday announced plans to allocate up to $20 million towards a new corporate treasury strategy centered around Ripple‘s (CRYPTO: XRP).
The company stated that it will use proceeds from a recently approved equity financing arrangement to fund the purchase of XRP tokens, with aims to treat the cryptocurrency as a long-term strategic reserve.
The decision makes Nature's Miracle one of the first publicly traded non-financial companies to adopt XRP, currently the third-largest cryptocurrency by market capitalization, as a treasury asset.
The company also plans to engage with staking opportunities and broader participation in the Ripple ecosystem.
According to the release, the funding will initially come from capital raised under a registration statement on Form S-1 declared effective by the U.S. Securities and Exchange Commission.
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Further XRP purchases may be financed through a mix of equity issuances, structured financing, and strategic placements.
CEO James Li attributed the move to increased regulatory clarity following the recent passage of the GENIUS Act, signed into law by President Donald Trump on July 18, which has encouraged broader corporate participation in the digital asset space.
“We see the huge potential of XRP as it improves the speed and reduces the cost of cross-border payments,” Li said.
Nature's Miracle joins a growing list of companies engaged with XRP.
Financial institutions such as Banco Santander (NYSE:SAN) and American Express (NYSE:AXP) have already incorporated Ripple's payment technologies into their operations.
In 2023, Japan's SBI Holdings announced the use of XRP in its internal treasury operations, while other blockchain-native firms have used XRP for cross-border liquidity and remittance flows.
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