OceanPal Inc. announced that its wholly owned subsidiary SovereignAI Services LLC, which is focused on commercializing the NEAR Protocol, disclosed its initial treasury update as part of its commitment to OP’s recently announced NEAR treasury strategy. As of November 13, 2025, at 12PM EST, SovereignAI treasury holdings totaled 53.9 million NEAR.
Following its prior announcement, OceanPal also disclosed that beginning today November 17, 2025, shares of the Company΄s common stock will trade on Nasdaq under the new ticker symbol “SVRN.”
SovereignAI Treasury Update
● Treasury Holdings: As of November 13th, 2025, SovereignAI’s liquid NEAR holdings totaled 53.9 million NEAR, representing a total value of approximately $133 million. This amount represents ~4.2% of the total NEAR token supply, demonstrating SovereignAI’s ability to quickly reach its 10% of total token supply accumulation target.
● Yield: Since inception, SovereignAI’s yield strategies have achieved a 5.3+% gross annual percentage yield (APY) before fees.
OceanPal’s recently appointed Co-CEO and CEO of SovereignAI, Sal Ternullo, commented, “We believe in greater individual sovereignty and individual ownership of AI and our immediate execution on previously disclosed plans to acquire 10% or more of the total NEAR supply affirm our belief that NEAR Protocol’s vertically integrated AI capabilities will facilitate this future. Our disciplined and data-driven approach to treasury management will allow us to offer our shareholders what we believe is the greatest asymmetric upside among mature Layer 1 protocols in the market with exposure to an investment in critical AI infrastructure.”
Why NEAR?
Just as onchain payment rails are creating a more transparent, accessible financial system, SovereignAI believes open AI rails the NEAR Protocol enables are the essential foundation of a user-owned genetic economy. NEAR was uniquely architected for high-performance AI-native use cases, making it the best positioned blockchain protocol to deliver this critical infrastructure. Furthermore, the NEAR network continues to lead in user adoption, exceeding 41.6 million monthly active users and is one of the most widely adopted networks by users across use cases from e-commerce, gaming, loyalty programs and many others. The network currently processes between $100 to $200 million dollars in daily transaction volume through NEAR Intents—underscoring healthy, organic demand at scale for Near Protocol’s unique technology. This growth demonstrates that NEAR Protocol’s unified liquidity layer and vertically integrated AI capabilities will be the foundation for the future of agentic commerce.
Our SVRN Vision
Alongside the treasury update, OceanPal also disclosed it will be changing its stock ticker but not undertaking any other corporate action that affects the rights of outstanding common stock, with no action required by shareholders in connection with the ticker symbol change. This change is designed to reflect SovereignAI’s (or “SVRN” for short) vision, that it shares with the NEAR Foundation, of user-owned, agentic AI. SVRN’s goal is to serve as a leading publicly traded vehicle that provides exposure to both the NEAR token and its unique capability among digital assets to create the foundational AI infrastructure, enabling private, autonomous agent commerce. NEAR’s AI-focused stack allows agents to transact, manage assets, and make automated decisions while preserving user privacy, governance, and economic rights, aligning with growing institutional interest in scalable, compliant AI solutions.
Mr. Ternullo concluded, “We΄re just getting started, and SVRN represents the beginning of a new chapter in how institutions and investors can participate in the future of agentic commerce. We look forward to disclosing further updates on the successful execution of our holistic NEAR treasury management strategy in order to fund the AI infrastructure buildout we’ll operationalize during our next phase of growth.”