VivoPower International has announced that it has raised $121 million in a private share placement to launch an XRP treasury strategy.
The Company intends to use the funds to contribute and invest in the XRPL DeFi ecosystem to reduce debt and for general corporate purposes.
Since MicroStrategy made headlines in 2020 by making Bitcoin its primary treasury reserve asset, other companies have gradually followed suit. That move helped set a trend, and over the past 30 days alone, corporate Bitcoin holdings have climbed by 13.21%. Now, Ripple’s XRP, a token known for its role in cross-border payments, is joining the chat.
VivoPower, an energy solutions company based in London, has made a move that could reshape how publicly traded firms think about altcoins. Founded in 2014 and listed on NASDAQ under the ticker VVPR since 2016, VivoPower is known for providing turnkey decarbonization solutions aimed at helping clients reach net-zero carbon emissions. Now, it’s charting new territory as it plans to become the first publicly traded company to adopt XRP as a treasury reserve asset.
To support this plan, the company recently raised $121 million in a private placement led by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia. As per the announcement, the shares were issued at $6.05, notably above their most recent closing price on NASDAQ.
Shared Vision for a Scalable XRP Strategy
Prince Abdulaziz emphasized the strategic rationale behind the investment, stating: “We have been investors in the digital asset sector for a decade and have been long-term holders of XRP. After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out the XRPL ecosystem. Furthermore, we are committed to the long-term partnership objective that we share with Kevin Chin and his team.”
Echoing that vision, Kevin Chin, Executive Chairman of VivoPower, emphasized the shared goals behind the company’s bold move. “As a long-term holder of XRP myself,” he said,
we all share a common vision and objectives with regards to how a publicly listed XRP-focused treasury company can be scaled for the benefit of the XRP community and VivoPower stakeholders alike.
As part of the pivot, Adam Traidman, former Ripple board member and blockchain entrepreneur, has joined the effort. He’s investing in the offering and has also been appointed Chairman of VivoPower’s Board of Advisors.
A shareholder meeting to approve the proposed strategy is expected to be held on or around June 18, 2025. Finalization of the transaction remains contingent on several conditions, including no material adverse changes, the continued listing of VivoPower shares, and all parties fulfilling their obligations under the Subscription Agreements. The funds raised will not only support the XRP initiative but will also be used to reduce company debt and cover general corporate expenses.
Despite the excitement for the announcement, the market hasn’t yet responded well. XRP is priced at $2.29, down 5.66% over the past week and another 0.29% in the last 24 hours. However, the trading volume has surged by 24.42% to $2.64 billion, showing there is increased investor interest.
Meanwhile, derivatives metrics present a mixed picture. Open interest declined by 2.32%, settling at $4.73 billion, while options volume dropped by 13.01% to just $1.20 thousand. However, options open interest moved in the opposite direction, rising by 3.40% to reach $2.13 million.
