OceanPal Invests $120M In NEAR-Based AI Infrastructure

Key Takeaways

• OceanPal raised $120 million through a PIPE deal to fund SovereignAI, a NEAR-based AI infrastructure company.

• SovereignAI plans to acquire up to 10% of NEAR’s token supply, becoming a key participant in the NEAR ecosystem.

• The project leverages NEAR Protocol and NVIDIA technology to develop privacy-preserving AI systems.

• Leadership updates bring top executives from major financial institutions to guide OceanPal’s blockchain initiatives.

• The partnership positions OceanPal at the crossroads of AI innovation and decentralized finance.

OceanPal’s Vision: Building A NEAR-Powered AI Treasury

According to the official announcement, SovereignAI will focus on developing privacy-preserving AI infrastructure using both NEAR’s blockchain technology and NVIDIA’s advanced AI capabilities.

Source: OceanPal

A core part of this strategy involves the creation of a crypto treasury that plans to acquire up to 10% of NEAR’s total token supply.

This collaboration with the NEAR Foundation is rooted in a shared mission of “universal AI sovereignty,” a concept that promotes open, decentralized access to AI resources and governance.

Through this initiative, OceanPal is positioning itself as a public vehicle for institutional and retail investors seeking exposure to the NEAR ecosystem.

NEAR: A Blockchain Built For AI Applications

Launched in 2020, NEAR Protocol is a layer-1 blockchain known for scalability, developer-friendly tools, and its growing ecosystem of decentralized applications (dApps).

NEAR’s infrastructure allows AI agents to interact autonomously, managing assets, executing transactions, and communicating securely across networks.

By partnering with NEAR, OceanPal aims to enable AI-driven services that preserve user privacy while benefiting from blockchain transparency and immutability.

Leadership Restructuring At OceanPal

Alongside the launch of SovereignAI, OceanPal announced a leadership transition designed to strengthen its blockchain and AI initiatives.

• Sal Ternullo, formerly of State Street, has been appointed co-CEO.

• David Schwed, previously with BNY Mellon, Galaxy Digital, and Robinhood, joins as Chief Operating Officer (COO).

Additionally, Illia Polosukhin, NEAR Foundation’s co-founder and CEO, will join the SovereignAI Advisory Board. Other advisors include Richard Muirhead of Fabric Ventures and Lukasz Kaiser, a key researcher at OpenAI.

These appointments signal OceanPal’s commitment to integrating institutional finance expertise with next-generation blockchain and AI development.

The Growing Intersection Of AI & Crypto

AI Agents & Blockchain: A New Economic Model

The rise of AI agents, autonomous systems capable of perceiving, reasoning, and acting without human input, is reshaping both the tech and finance industries. These agents rely on blockchain networks to verify transactions, manage resources, and interact securely with digital assets.

Industry leaders argue that cryptocurrency is essential for enabling these AI systems to function effectively within decentralized economies.

John D’Agostino, Head of Institutional Strategy at Coinbase, emphasized that AI agents will rely on crypto to transact efficiently and transparently in financial markets.

Market Momentum: AI and Crypto Integration

The AI–crypto connection is gaining traction across major tech players:

• Cloudflare announced plans for a new stablecoin, “NET Dollar,” to support instant, AI-triggered transactions.

• Coinbase’s AI-ready payments protocol, launched in May, has seen transaction volumes surge over 10,000% according to Dune Analytics.

• Coinbase developers predict that AI agents could soon become Ethereum’s largest power users, marking a fundamental shift in blockchain activity.

Source: X (@brian_armstrong)

These developments highlight how OceanPal’s SovereignAI project fits into a rapidly evolving landscape where AI and DeFi are converging.

FAQ

What is OceanPal’s new subsidiary SovereignAI?

SovereignAI is OceanPal’s new venture focused on combining AI and blockchain technology to create a secure, decentralized infrastructure for AI applications using the NEAR Protocol.

Why is OceanPal partnering with the NEAR Foundation?

The partnership aims to build a crypto treasury strategy centered on NEAR tokens, while supporting the NEAR Foundation’s mission to promote AI sovereignty and decentralized governance.

How much of NEAR’s token supply will SovereignAI acquire?

OceanPal’s SovereignAI plans to acquire up to 10% of NEAR’s token supply as part of its treasury diversification strategy.

How does this impact investors?

By launching SovereignAI, OceanPal provides public market investors with a new way to gain exposure to NEAR tokens and participate in the growing AI–blockchain sector.