Vivopower International PLC (Nasdaq: VVPR) announced on May 28 that it is pioneering a groundbreaking initiative to establish the world’s first publicly listed XRP-focused digital asset treasury. The company detailed its strategic pivot alongside the completion of a $121 million private placement, led by His Royal Highness, Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
Highlighting its role in advancing decentralized finance, Vivopower stated:
Vivopower is believed to be the first publicly listed company in the world to launch an XRP-focused digital asset treasury strategy that also encompasses the contribution to building out the XRPL ecosystem for real-world decentralized finance blockchain solutions.
Prince Abdulaziz explained his support for Vivopower’s unique vision and long-term potential: “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 of the XRPL ecosystem.”
He added: “We are honored to be leading this capital raising for a company that will be the first in the world executing on an XRP-focused treasury strategy. Having met with President Trump and his leadership group during their recent visit to Saudi Arabia, we believe the timing is appropriate for digital assets and blockchain technology to be rolled out in the Kingdom and we are delighted to be assisting Vivopower in this regard.”
Vivopower indicated that a significant portion of the proceeds would go toward purchasing and holding XRP:
The company intends to use the majority of the funds raised to accumulate XRP and establish its XRP-focused treasury operations, as well as to contribute and invest in the XRPL DeFi ecosystem.
“Funds raised will also be used to reduce debt and for general corporate purposes,” the company noted. Adam Traidman, a former Ripple board member and now Chairman of Vivopower’s Board of Advisors, praised the initiative: “Vivopower’s initiative to become the first publicly listed company with an XRP-centric treasury strategy is a forward-thinking move that reflects growing institutional conviction in real-world blockchain applications. I look forward to contributing to the company’s efforts in scaling its XRP presence.”
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