SVRN, Inc. Completes Successful Transformation for a New Era of Digital Asset Management

SVRN, Inc. Completes Corporate Transformation

In a strategic move that marks a significant milestone, SVRN, Inc. (NASDAQ: SVRN) has announced the completion of its corporate transformation, transitioning from the former OceanPal Inc. This pivotal change, effective from August 27, 2026, is not just a name change but a comprehensive shift in the company's strategy and focus, aligning it with its operational identity that has been in place since November 2025.

The transformation process, which began in October 2025, has been designed to redefine the company's future direction. SVRN initially entered the digital asset space through a notable $120 million private placement in partnership with the NEAR Foundation. This partnership aims to build a robust digital asset treasury centered on the NEAR token, with the ambitious goal of accumulating 10% of the total NEAR token supply over time.

Since this partnership, SVRN has successfully established itself as a leader in the management of NEAR digital assets, currently holding more than 55.5 million tokens. The company has built a publicly traded digital asset treasury that not only includes significant holdings of NEAR but also integrates institutional staking and custody relationships.

To catalyze commercial adoption of NEAR, SVRN has engaged in various initiatives, including a promising pilot partnership with Oracle, which plans to incorporate stablecoin payments through its point-of-sale systems utilizing NEAR. This initiative showcases SVRN’s commitment to driving the practical utilization of NEAR in real-world business applications.

In a significant operational change during July 2026, SVRN divested its shipping business, a move that eliminated all outstanding debts and retired its Series C preferred stock without any cash outflow or issuance of stock. This strategic divestiture positions SVRN as a more focused entity, dedicated primarily to digital asset management and the advancement of the NEAR Protocol.

Sal Ternullo, the Chief Executive Officer of SVRN, asserts the importance of this transformation: “In ten months, we've successfully restructured our capital stack and exited our legacy business entirely. Completing this transformation is a pivotal moment that allows us to focus singularly on promoting this essential technology.”

SVRN's new operational framework emphasizes control over assets and data while harnessing artificial intelligence effectively. At the core, SVRN leverages the NEAR Protocol, which is poised to be the backbone of the emerging agentic economy, enabling individuals to retain authority over their assets, data, and the AI agents acting on their behalf.

To facilitate transparency and offer real-time insights into its operations, SVRN has launched a public dashboard. This platform provides investors with direct access to view the company's digital asset positions, including its ongoing pursuit of its target for NEAR token accumulation.

As SVRN moves forward, it intends to advance the commercialization of NEAR’s offerings actively, while also backing and fostering ventures that align with its mission. This transformation not only positions SVRN for future growth but also prepares the groundwork for significant innovation within the digital asset landscape.

To learn more about SVRN's strategies and developments, visit www.svrn.net.