VivoPower, an energy company, has secured substantial investments to launch a treasury strategy involving XRP. This move has drawn attention from high-profile investors, including a Saudi prince.
XRP Treasury Strategy
VivoPower announced the raising of $121 million to implement its XRP treasury strategy. The funds will be used to purchase XRP, establish XRP-focused treasury operations, support the XRPL DeFi ecosystem, and for debt reduction.
Investment from Saudi Prince
Leading the financing is Saudi Arabian Prince Abdulaziz bin Turki Al Saud, who has a long-standing interest in digital assets and XRP. "We selected VivoPower due to its strategic focus on XRP and its intention to contribute to the XRPL ecosystem," stated the prince.
Future of VivoPower and XRP
VivoPower has become the first public company to adopt the XRP treasury strategy. It aims to enact significant changes within the ecosystem, backed by investors like Adam Traidman, former Ripple board member.
The launch of the XRP treasury strategy by VivoPower opens new avenues for integrating digital assets in corporate governance and may considerably impact the development of the XRPL ecosystem.
