VivoPower Raises $121M for XRP Treasury Strategy
- Saudi royalty leads $121M investment in VivoPower.
- VivoPower plans to adopt XRP as treasury asset.
- Positive market response with an 11% share increase.
VivoPower International PLC has secured $121 million through a private share placement, primarily backed by Saudi royalty, to adopt XRP as its treasury asset.
This funding marks a strategic move in the crypto sector, impacting market trends and enhancing VivoPower’s financial outlook.
VivoPower’s $121M Investment marks a strategic move in the crypto sector, impacting market trends and enhancing VivoPower’s financial outlook.
VivoPower International PLC has acquired $121 million through a placement focusing on XRP, led significantly by Prince Abdulaziz. Saudi involvement signals strong support for crypto integration. The funds aim to purchase XRP, aligning VivoPower as a pioneering publicly listed company.
The investment was principally backed by Prince Abdulaziz with $100 million. This strategic initiative involves purchasing XRP cryptocurrency and advances the XRPL ecosystem. Shareholder approval is pending, with earnings projected to support decentralized finance projects.
“We have been investors in the digital asset sector for a decade and have been long-term holders of XRP. After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out of the XRPL ecosystem.” – His Royal Highness, Prince Abdulaziz bin Turki Abdulaziz Al Saud, Chairman of Eleventh Holding Company
VivoPower experienced an initial 26% share spike, stabilizing at an 11% increase. This demonstrates market confidence. Executive Chairman Kevin Chin cites alignment of vision as pivotal. Spin-off plans for non-core businesses are underway for 2025.
The SEC’s recent stance on XRP influences institutional demand, contributing to optimistic market sentiment. XRP’s current status as the fourth-largest cryptocurrency adds significance. VivoPower’s move anticipates possible SEC case resolution benefits.
The focus on XRP challenges traditional treasury approaches, potentially impacting technological and financial landscapes. Data supports XRP’s growing acceptance and regulatory approval. This move could exemplify a trend toward corporate crypto adoption.
