- VivoPower raises $121M to launch the first XRP treasury reserve, boosting corporate adoption of the cryptocurrency.
- Despite the major announcement, XRP’s price fell over 2%, extending its weekly losses above 5%.
VivoPower takes bold step into crypto, launching the first XRP-focused treasury reserve strategy among public companies. The firm recently completed a $121 million private funding round, becoming the first publicly traded company to officially adopt XRP as a treasury asset.
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VivoPower Bets Big on XRP
VivoPower revealed that it had entered into a private offering deal with investors, issuing 20 million shares at an average price of $6 each. The investment, led by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud—Chairman of Eleventh Holding—marks a significant vote of confidence in XRP.
“We are honored to be leading this capital raising for a company that will be the first in the world to execute an XRP-focused treasury strategy,” Prince Abdulaziz said in the company’s press release.
VivoPower plans to allocate the majority of the $121 million proceeds toward purchasing XRP, setting the stage for what it describes as a broader commitment to digital asset integration within its treasury framework.
Industry Heavyweights Join the Mission
Adding more credibility to the initiative, Adam Traidman, a former Ripple board member and CEO of SBI Ripple Asia, has joined VivoPower as Chairman of its Board of Advisors. His involvement signals a strong alignment with Ripple’s long-term ecosystem growth and institutional ambitions.
VivoPower’s Executive Chairman Kevin Chin said he is a long-term holder of XRP. He added that they share a vision to grow the XRP-focused treasury for the benefit of both the XRP community and VivoPower stakeholders.
XRP Price Shrugs Off the News
Despite the groundbreaking announcement, XRP’s market performance remained muted. The token slipped more than 2% on the day of the news, pushing its weekly losses above 5%. This reaction highlights the broader bearish sentiment in the crypto market, though it may not reflect the long-term implications of VivoPower’s strategic pivot.
The move also comes as investors await decisions on several XRP ETF filings. Bloomberg analysts estimated an 85% chance of SEC approval for these products—potentially setting the stage for more institutional adoption.
As VivoPower leads the charge, XRP now joins the ranks of Bitcoin, Ethereum, and solana as recognized corporate treasury assets.
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