While the Bitcoin (BTC) reserve strategy was generally adopted under the leadership of the big bull Michael Saylor's company Strategy, a huge Ripple (XRP) move came from a Nasdaq-listed company.
VivoPower, an energy company founded in 2014, has raised $121 million to launch the XRP treasury strategy, Coindesk reported.
The funds raised will be used to purchase XRP, set up XRP-focused treasury operations, contribute to the XRPL DeFi ecosystem, and for debt reduction and working capital.
“…XRP is expected to be one of five digital assets to be deposited by the U.S. Government as part of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile that President Donald Trump recently announced.”
What makes the company's XRP strategy interesting is that the financing was led by Saudi Arabian Prince Abdulaziz bin Turki Al Saud, who has long invested in digital assets and XRP.
Prince Abdulaziz bin Turki Abdulaziz Al Saud said:
“We have been investors in the digital asset industry for ten years and are long-term holders of XRP.
After reviewing a number of listed brokers looking to adopt the digital asset treasury model, we selected VivoPower due to its strategic focus on XRP and its goal of contributing to the creation of the XRPL ecosystem.
“We are honored to lead this capital raise for a company that will be the first in the world to implement an XRP-focused treasury strategy.”
The Saudi prince also said his team met with US President Donald Trump and his leadership group during his recent visit to Saudi Arabia.
At this point, the talks seem to play an important role in accelerating the XRP-focused treasury strategy plans.
Former Ripple board member and SBI Ripple Asia CEO Adam Traidman is also among the investors, and he will also serve as the chairman of VivoPower’s advisory board.
VivoPower reportedly became the first public company to adopt the XRP treasury strategy with this move.
*This is not investment advice.
