Arizona lawmakers have proposed a bill to establish a state digital asset reserve fund, explicitly including Ripple‘s XRP alongside Bitcoin, DigiByte, and stablecoins. The legislation aims to diversify the state’s financial holdings beyond the U.S. dollar and consider the potential functional utility of the assets. If passed, it would represent a significant step in modernizing state finances and could influence broader adoption.
Legislators in Arizona have proposed establishing a digital asset reserve fund, with data showing the bill includes Ripple‘s XRP among other cryptocurrencies. The goal is to diversify the state government’s digital assets rather than relying on a single dominant one.
The bill focuses on assets expected to provide long-term value or practical use. While various states are looking at Bitcoin, Arizona plans to diversify with XRP and other tokens.
Lawmakers are considering the potential functionality of these assets alongside their role as a store of value. This development indicates Arizona is ahead of other states in embracing the new financial system.
The state is exploring holding Bitcoin, DigiByte, and stablecoins alongside XRP. The focus also includes seizing unclaimed property and adding it to the state’s reserves.
This move would push Arizona into new territory and modernize its finances from regular savings accounts to digital assets. Following the news, Ripple‘s native token XRP was up nearly 2.5%.
If approved, the State Treasurer would diversify holdings beyond the U.S. dollar. Using seized tokens, including XRP, within the State Treasury is viewed as a beneficial long-term strategy.
