Nasdaq-Listed Company Moves to Acquire 10 Percent of This Altcoin’s Supply

Nasdaq-listed shipping company OceanPal announced that it has completed a $120 million private equity investment (PIPE) in collaboration with $NEAR to establish a subsidiary, SovereignAI Services LLC, focused on developing digital assets and artificial intelligence (AI) infrastructure.

According to the company's statement, cryptocurrency-focused investors such as Kraken, Proximity, Fabric Ventures, and G20 Group also participated in the investment round along with the $NEAR Foundation.

Proceeds will be used to create a digital asset treasury centered on $NEAR Protocol and develop a confidential AI cloud platform powered by $NEAR and Nvidia technologies. $NEAR Protocol is a Layer-1 blockchain platform designed for scalable and AI-compatible decentralized applications (dApps).

The startup, SovereignAI, aims to position OceanPal as an investment vehicle that provides access to both the $NEAR token and the AI infrastructure that enables autonomous vehicle trading. The company plans to acquire at least 10% of the $NEAR token supply over the long term.

“We are delighted to have SovereignAI join the $NEAR ecosystem,” Polosukhin said. “Together, we will build true universal AI sovereignty that will enable user-owned, private, and autonomous AI commerce.”

*This is not investment advice.