From Ships to Sharding: OceanPal's Big Bet on AI and Crypto Yield

ATHENS, Greece and NEW YORK, NY – February 11, 2026 – In a move that further blurs the lines between traditional industry and the digital frontier, SovereignAI Services LLC (SVRN), the AI-focused subsidiary of shipping firm OceanPal Inc. (NASDAQ: SVRN), has appointed quantitative asset manager G-20 Group to manage its sizable cryptocurrency treasury. The mandate will see G-20 employ sophisticated derivative strategies to generate yield on SVRN's holdings of NEAR tokens, with the proceeds earmarked to fund the development of a secure, autonomous AI infrastructure.

The announcement represents a pivotal step in a broader strategic transformation for OceanPal, a company whose primary business has long been the seaborne transportation of dry bulk commodities. This pivot, which began with a $120 million private investment and the establishment of SVRN, seeks to position the publicly traded entity as a key player at the intersection of blockchain technology and artificial intelligence.

"This mandate represents a strategic evolution of our treasury operations, designed to make our NEAR balance sheet work harder without compromising liquidity," said Sal Ternullo, CEO of SVRN and co-CEO of OceanPal. "By working with G-20 Group to actively manage our NEAR holdings, we aim to enhance risk-adjusted returns that help fund SVRN's infrastructure roadmap."

A Bold Pivot from Shipping Lanes to Blockchain

OceanPal Inc.'s journey from a traditional shipping operator to a backer of cutting-edge AI is a case study in corporate diversification. While the company continues to operate its fleet of dry bulk and tanker vessels, its strategic focus has dramatically shifted. This reorientation was cemented by the company's decision to change its Nasdaq ticker symbol from "OP" to "SVRN," aligning its public identity with its new AI-centric subsidiary.

The foundation for this new direction was a $120 million Private Investment in Public Equity (PIPE) financing, the proceeds of which were designated for building out a digital asset treasury composed primarily of NEAR tokens. As of late 2025, SVRN held approximately 53.9 million NEAR tokens, valued at around $133 million at the time, representing over 4% of the token's total supply. SVRN has stated a long-term goal of accumulating at least 10% of all NEAR tokens as part of its monetization strategy.

This strategic pivot aims to provide public market investors with direct exposure to the high-growth potential of both the NEAR ecosystem and the burgeoning field of "agentic commerce," where autonomous AI agents can transact securely on-chain. However, the move has not been without market turbulence, as investors digest the inherent risks of diversifying from a legacy industry into the volatile digital asset space.

Engineering a Next-Generation Corporate Treasury

The appointment of G-20 Group marks a critical operational phase in SVRN's strategy. Rather than passively holding its NEAR assets, the company is actively putting them to work. G-20 Group, a quantitative firm with deep expertise in crypto derivatives and institutional asset management, has been tasked with creating a risk-managed yield strategy.

This involves using derivative overlays—financial instruments that can generate income or hedge against price movements—on a portion of SVRN's NEAR holdings. The primary goal, as emphasized by both companies, is capital preservation while capturing additional yield.

"Efficient capital deployment is critical for public entities operating in digital-asset markets," stated Dr. Nagendra Bharatula, CEO of G-20 Group. "We have structured a strategy for SVRN that prioritizes capital preservation while capturing yield opportunities. Our focus is on delivering consistent, risk-managed returns that support SVRN's long-term growth objectives."

This approach reflects an evolution in how corporations manage digital assets on their balance sheets. Nauman Sheikh, Head of Treasury Management at G-20 Group, described the initiative as a potential blueprint for the future. "Our role is to translate SVRN's NEAR holdings and risk appetite into an overlay that can scale, withstand volatility and remain fully aligned with the company's broader balance-sheet strategy," he added. This transparent, systematic program moves beyond simple asset holding and into active, sophisticated financial management.

The Institutional Bet on NEAR and Sovereign AI

The strategic selection of NEAR Protocol as the core asset for this venture is significant. NEAR is a Layer-1 blockchain known for its technical prowess, particularly its "Nightshade" sharding technology that enables high scalability and low transaction costs. More importantly, the NEAR ecosystem has strategically positioned itself to be the foundational layer for a new generation of AI applications.

The partnership is a strong vote of confidence in NEAR's technology and its growing institutional appeal. Illia Polosukhin, co-founder of NEAR Foundation and chairman of SVRN's advisory board, endorsed the move, noting, "G-20 has been a key partner in the Near ecosystem and we are excited to see their role expand with SVRN to accelerate balance sheet yield generation strategies driving the accumulation of NEAR."

The yield generated from the treasury strategy will directly fund SVRN's mission: building what it calls "Sovereign AI." This refers to infrastructure that allows AI agents to operate autonomously and securely, with an emphasis on user ownership of data and privacy. SVRN aims to build a blockchain-native, confidential AI cloud powered by NEAR, enabling privacy-preserving AI solutions for enterprise sectors like finance and healthcare.

Navigating a Complex Regulatory Sea

As a subsidiary of a publicly traded company, SVRN's deep dive into crypto treasury management places it squarely in the crosshairs of a complex and evolving regulatory environment. Navigating these challenges is critical to the strategy's long-term success.

Recent developments have provided some clarity. The Financial Accounting Standards Board's (FASB) 2023 ruling requires companies to report crypto holdings at fair value, allowing them to recognize gains and providing a more accurate financial picture. Furthermore, the SEC's rescission of Staff Accounting Bulletin 121 in 2025 was seen as a move toward more accommodating guidance for digital asset custodians.

However, significant ambiguity remains. Public companies must provide exhaustive risk disclosures related to digital asset volatility, security, and the uncertain legal classification of many tokens. OceanPal's own SEC filings acknowledge the high volatility of NEAR and the potential for its stock price to be correlated with the performance of its digital asset holdings. This new venture by SVRN and OceanPal will be closely watched not only as a test of its business model but also as a high-profile case of a public company navigating the frontier of digital finance.