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VivoPower Acquires Stake in Ripple for $100 Million

VivoPower Acquires Stake in Ripple for $100 Million

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by Giorgi Kostiuk

19 hours ago

VivoPower International PLC has announced its intent to acquire a significant stake in Ripple Labs, granting it access to hundreds of millions of XRP tokens at a discounted price.

Proposed Acquisition of Ripple Shares

VivoPower has confirmed it will allocate $100 million to purchase shares of Ripple from existing shareholders, pending final approval from Ripple's management. This decision follows a two-month due diligence process.

Cost-Reduction Strategy

CEO Kevin Chin stated that the deal structure could reduce VivoPower's effective acquisition cost of XRP by up to 86% compared to open-market purchases.

Ripple and VivoPower's Prospects

Ripple holds 41 billion XRP tokens, and VivoPower will indirectly own part of this reserve. Ripple is also expanding its operations beyond XRP, including the launch of the RLUSD stablecoin and acquiring the Hidden Road platform.

The acquisition of Ripple shares represents a significant step for VivoPower, enhancing its position in the cryptocurrency market and creating opportunities for future investments.

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