Nasdaq-listed VivoPower has made headlines by becoming the first publicly traded company to launch a digital treasury centered on XRP. To kick off this bold initiative, the company has successfully raised $121 million through a private placement.
Ambition to Build the XRP Ecosystem
In a press release, VivoPower announced that the funds will be used to accumulate XRP and support the development of the XRP Ledger (XRPL) ecosystem, focusing on real-world decentralized finance (DeFi) applications.
Notably, the company highlighted that XRP could be among the five strategic digital assets the U.S. government may stockpile, following former President Donald Trump’s proposal for a national Bitcoin reserve and digital asset portfolio.
The funding round involved the sale of 20 million ordinary shares at $6.05 each. Leading the investment was Prince Abdulaziz bin Turki Abdulaziz Al Saud, Chairman of Eleventh Holding Company (Saudi Arabia), along with other prominent crypto investors.
Prince Abdulaziz stated: “We’ve been investing in digital assets for over a decade and have been long-term holders of XRP. After reviewing several listed vehicles with digital asset treasury models, we chose VivoPower for its strategic focus on XRP and commitment to the XRPL ecosystem.”
Fund Allocation and Key Leadership
Most of the funds raised will go toward building the XRP treasury and supporting treasury operations, while the rest will be allocated to investments in the XRPL DeFi ecosystem.
However, the completion of the private placement is still subject to shareholder approval, expected at a meeting scheduled for June 18.
Additionally, Adam Traidman—former Ripple board member and a notable crypto entrepreneur—will invest in the initiative and serve as Chairman of VivoPower’s Board of Advisors.
Despite the positive news, XRP’s price is down about 3%, trading at around $2.25, amid a broader market correction led by Bitcoin.
