Nasdaq-listed VivoPower International has launched what is believed to be the world’s first XRP-based crypto asset treasury strategy among publicly listed companies.
Specifically, the company raised $121 million in a private placement led by Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia. The shares were at $6.05, above their last Nasdaq closing.
According to the press statement, the capital will go toward acquiring and holding XRP and establishing a dedicated digital asset treasury. Additionally, the company plans to build a decentralized finance (DeFi) team, reduce corporate debt, and expand its blockchain infrastructure.
This marks a significant moment for institutional XRP adoption and mirrors MicroStrategy’s Bitcoin-focused playbook.
Royal Backing After Strategic Talks with Trump
Interestingly, the deal follows Prince Abdulaziz’s recent meeting with U.S. President Donald Trump and his group during a visit to Saudi Arabia. The timing coincides with talks that XRP could be one of the five crypto assets in Trump’s proposed United States Digital Asset Stockpile.
Prince Abdulaziz, a long-term XRP holder, expressed confidence in VivoPower’s mission to contribute to the XRP Ledger (XRPL) ecosystem and real-world blockchain applications. He said this was the right moment for digital asset infrastructure to expand globally, including in Saudi Arabia.
Ripple Veteran Joins as Advisor
Further strengthening the XRP strategy, Adam Traidman, an ex-Ripple board member, has joined VivoPower’s Board of Advisors as chairman. Traidman also participated in the investment round.
He called the move a forward-looking step that reflects growing institutional conviction in XRPL’s real-world use cases, setting XRP up for deeper integration in financial infrastructure.
XRPL-Focused Growth and Global Spin-offs
VivoPower’s transformation into an XRP-based crypto asset company will also support the upcoming spin-offs of its subsidiaries: Tembo, an electric vehicle division, and Caret Digital, a power-to-X digital mining firm.
Executive Chairman Kevin Chin expressed optimism about using XRP to solve global payment challenges, which the company has faced firsthand through its global operations.
Chin noted that they are fast-tracking both spin-offs for completion by Q3 2025. He also said discussions with Energi Holdings regarding their takeover proposal remain ongoing, now focusing on Tembo.
XRP’s Institutional Use Case Continues to Gain Traction
VivoPower’s strategic pivot confirms growing confidence in XRP as a long-term institutional asset.
Earlier this month, Wellgistics Health secured a $50 million credit facility to adopt XRP as a reserve asset and core component of its real-time payments platform. The move positioned it as one of the first publicly traded healthcare firms to do so. Other companies like Worksport have signaled interest in XRP for reserve purposes.
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