OceanPal Inc. introduced that it has raised $120 million to launch its digital asset treasury technique, centered on the NEAR Protocol’s native token. The Nasdaq-listed delivery agency turns into the newest conventional firm to diversify into digital property, reflecting a broader development of company adoption throughout the crypto sector.
Nonetheless, OceanPal’s shares fell following the announcement, highlighting attainable investor skepticism about its pivot towards blockchain-based holdings.
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OceanPal Dives into Digital Belongings with $120 Million NEAR Guess
In keeping with the press launch, OceanPal closed its $120 million personal funding in public fairness (PIPE) to fund SovereignAI Providers LLC. It’s a subsidiary tasked with commercializing the NEAR Protocol.
SovereignAI’s treasury objective is to accumulate at the least 10% of NEAR’s token provide, making it one of many main institutional holders of this asset.
“As a result of this transaction, OP, through SovereignAI, is expected to serve as the leading public investment vehicle to gain exposure to NEAR, the NEAR Protocol’s native token, and the foundational AI infrastructure needed to enable agentic commerce,” the press launch reads.
The corporate additionally plans to leverage the capital generated via its treasury administration technique to develop a confidential AI cloud infrastructure constructed on NVIDIA know-how and powered by NEAR.
Notable buyers backed the transaction, together with Kraken, Proximity, Cloth Ventures, and the G20 Group. OceanPal additionally introduced new govt appointments to bolster the digital asset enterprise.
Sal Ternullo joins as co-CEO, and David Schwed is COO. The advisory board options NEAR CEO Illia Polosukhin and advisors from OpenAI and Cloth Ventures.
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“This is a public company launching as an active, strategic partner with the NEAR Foundation to advance a shared vision of universal AI sovereignty by leveraging the NEAR Protocol’s vertically integrated AI products and rails, which were purpose-built for these exact use cases. We plan to use this decentralized, confidential compute infrastructure to capitalize on the explosive demand for privacy-first, regulatory compliant AI across enterprise markets including finance, healthcare, and media while enabling businesses and consumers to maintain control and ownership,” Ternullo mentioned.
Market Response and Inventory Efficiency
Whereas OceanPal pursues its new crypto and AI technique, it says international delivery operations will proceed. But, latest monetary outcomes level to challenges.
As of June 2025, income was $3.08 million, down 54.3% 12 months over 12 months. The corporate’s web loss was $5.22 million, and its revenue margin was -169.53%.
In the meantime, Google Finance information confirmed that OceanPal’s newest announcement induced the inventory costs to drop. OP closed at $1.74, down 20.91%. General, the inventory has confronted a troublesome time this 12 months, decling 94% year-to-date.
OceanPal Inventory Efficiency. Supply: Google Finance
NEAR Protocol’s native token has additionally declined alongside OceanPal’s inventory. In keeping with BeInCrypto Markets information, NEAR traded at $2.24 at press time, displaying a 4.37% loss over the previous 24 hours and a 20.7% decline over the month.
As each OceanPal and NEAR face market headwinds, the success of this formidable pivot into blockchain-powered AI stays to be seen.
