thecryptobasic.com
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.