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OceanPal established a wholly-owned subsidiary SovereignAI, partnering with NEAR to develop AI and encryption infrastructure.
According to Hashi Chain News, OceanPal has completed a $120 million PIPE financing to establish a wholly-owned subsidiary, SovereignAI, in collaboration with the NEAR Foundation to develop a digital asset vault and confidential AI cloud platform based on NEAR. OceanPal plans to acquire NEAR tokens in the long term, aiming to hold at least 10% of the total supply. Investors include Kraken, Proximity, Fabric Ventures, G20 Group, and the NEAR Foundation. The advisory board of SovereignAI consists of Illia Polosukhin and others. OceanPal will continue its bulk and tanker business while laying out blockchain and AI infrastructure.
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