Ripple Labs Wants to Lease Brookfield Corp’s Newest London Skyscraper

Core Insights - Ripple Labs Inc. is in advanced negotiations to lease approximately 90,000 square feet of office space at One Leadenhall in London's financial district, indicating its ongoing expansion strategy [1][2] - The lease rate is around £140 ($187.33) per square foot, making it one of the most expensive in London, reflecting the significant increase in office rents since 2021 [2] - Ripple's expansion follows a $1 billion acquisition of GTreasury, enhancing its presence in the corporate treasury market [4] Company Expansion - Ripple currently operates from Angel Court and employs over 900 people across 15 global offices, indicating a steady growth in its physical and digital presence [3] - The recent acquisition of GTreasury allows Ripple to optimize liquidity and access the global repo market, further solidifying its market position [4] - Ripple has also announced a partnership with Absa Bank to provide digital asset custody services in South Africa, aiming to expand its footprint in Africa by 2025 [5] Financial Strategies - Ripple is reportedly raising up to $1 billion for an XRP-focused digital asset treasury (DAT) through a special purpose acquisition company (SPAC) [6] - The company plans to purchase $1 billion worth of XRP for the treasury while incorporating a portion of its existing token reserves [6] - Ripple is backing Evernorth, a company designed to hold XRP and go public via a SPAC merger, which aims to provide institutional investors with indirect exposure to XRP [7][8]