OceanPal Bets Big: Building Revolutionary AI Infrastructure on NEAR Protocol While Deploying Aggressive Digital Asset Treasury Strategy
Another day, another company discovering that holding digital assets beats traditional treasury yields—who would've thought?
NEAR Protocol Lands Major AI Infrastructure Project
OceanPal just dropped the ultimate blockchain power move. The company announced plans to construct sophisticated AI infrastructure directly on NEAR Protocol's scalable platform—because apparently regular cloud computing just isn't cutting it anymore. This isn't just another corporate blockchain experiment; it's a full-scale architectural shift that could redefine how enterprises deploy artificial intelligence systems.
Treasury Strategy Gets Crypto Makeover
While Wall Street still debates whether Bitcoin belongs in corporate balance sheets, OceanPal is charging ahead with a comprehensive digital asset treasury strategy. They're not just dipping toes in the water—they're diving headfirst into crypto treasury management while traditional finance executives nervously check their bond portfolios. The move signals growing confidence among forward-thinking corporations that digital assets represent more than speculative plays—they're legitimate treasury instruments.
Because nothing says 'we believe in decentralized future' like putting company money where the blockchain is.
OceanPal swaps shipping lanes for AI rails
The transaction, which involved the purchase and sale of common stock and pre-funded warrants, will be used to implement OceanPal’s digital asset treasury through SovereignAI.
The new entity will focus on commercializing the NEAR Protocol, a blockchain network designed for artificial intelligence applications, including privacy-preserving computation and automated agent transactions.
SovereignAI’s ambitions are not modest, as it plans to acquire as much as 10% of NEAR’s native token supply over time, establishing itself as one of the largest corporate holders of the asset.
According to OceanPal’s newly appointed co-chief executive officer, Sal Ternullo, SovereignAI is designed to serve as a “leading public investment vehicle” for investors seeking exposure to NEAR, the NEAR Protocol’s native token, and the infrastructure powering “agentic commerce,” a term used to describe autonomous AI agents that transact and make decisions on behalf of users.
“We believe NEAR presents the greatest asymmetric upside across mature projects in the digital asset market,” said Ternullo. “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.”
SovereignAI plans to be active
Per its announcement, SovereignAI is not another passive crypto accumulation venture, as it’s expected to operate an infrastructure business that will be delivering “blockchain-native, confidential AI services” across regulated industries such as finance, healthcare, and media.
The venture’s management team includes David Schwed, the company’s new chief operating officer and a former chief information security officer at Robinhood.
Schwed said SovereignAI sits at the “convergence of two massive transformations – AI and digital ownership,” adding that NEAR’s architecture provides “the trust, security, and economic alignment necessary to realize true AI sovereignty.”
SoverignAI has heavyweight backing
The project has attracted a roster of heavyweight backers from both traditional finance and crypto-native investment circles. Participants in the PIPE deal include Kraken, Fabric Ventures, Proximity, and G20 Group. Advisory and legal partners such as Clear Street LLC, Cohen & Company Capital Markets, and Reed Smith LLP also played roles in structuring the transaction.
OceanPal has also formed a high-profile advisory board for SovereignAI, chaired by Illia Polosukhin, the NEAR Foundation’s chief executive and co-founder. Other members include Richard Muirhead of Fabric Ventures, Lukasz Kaiser of OpenAI, Philippe Sachs of Nscale, Andy Brown of Sandhill East, and Jackie Kennedy of QuickNode.
Polosukhin said the partnership aligns with NEAR’s goal of achieving “universal AI sovereignty” through decentralized, user-owned computing infrastructure. “We believe the NEAR Protocol’s AI-centric tech stack will allow user-owned AI to meet its moment,” he said.
The planned accumulation of 10% of NEAR’s token supply could also have implications for the token’s liquidity and governance dynamics, and the overall success of this partnership will depend heavily on SovereignAI delivering on its promise to make autonomous, user-owned AI a commercial reality.
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