OceanPal Inc., a Nasdaq-listed shipping firm, has raised $120 million through a private investment in public equity deal to launch SovereignAI, a new subsidiary designed to commercialize Near Protocol and advance decentralized AI infrastructure.
The company plans to acquire up to 10% of the NEAR token supply, forming a crypto treasury strategy developed in partnership with the Near Foundation. The initiative is based on the idea of “universal AI sovereignty,” combining blockchain security with AI autonomy.
OceanPal’s leadership reshuffle accompanies this move — former State Street executive Sal Ternullo becomes co-CEO, while David Schwed, previously with BNY Mellon, Galaxy, and Robinhood, joins as COO. Near co-founder Illia Polosukhin will advise SovereignAI, alongside Richard Muirhead (Fabric Ventures) and Lukasz Kaiser (OpenAI).
This step positions OceanPal as a publicly listed vehicle offering direct exposure to Near Protocol, while expanding AI-driven blockchain adoption.
You need to login in order to Like
Leave a comment