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Nasdaq-listed VivoPower has announced its decision to deploy $30 million as the first stage of its planned $200 million XRP treasury yield program.
VivoPower, which was initially founded in 2014 and listed on Nasdaq since 2016 and has global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East and Southeast Asia, is undergoing a digital treasury shift.
VivoPower, in this new shift, has highlighted a focus on the acquisition, management and long-term holding of XRP digital assets as part of a diversified digital treasury strategy. Through this, VivoPower aims to contribute to the growth and utility of XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications.
In this light, VivoPower has collaborated with Doppler Finance to develop and operate institutional-grade XRP yield programs on XRP Ledger (XRPL). Under the partnership, VivoPower intends to allocate capital in stages with the $30 million being the first stage of a planned $200 million total XRP deployment.
XRP institutional demand grows
In August, VivoPower announced its acquisition of Ripple shares, as part of a strategic boost to its XRP-focused digital asset treasury strategy, budgeting an initial $100 million to buy privately held Ripple shares. Aside from this, VivoPower says it will continue to directly acquire and hold XRP tokens.
Last Friday, Flare announced that Everything Blockchain, a U.S.-listed company, has signed a memorandum of understanding to adopt its XRP finance (XRPFi) framework for corporate treasury yield.
The adoption by two public companies, including VivoPower International, signals a shift in XRP's institutional adoption. At the time of writing, XRP was up 2.18% in the last 24 hours to $2.82.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team