VivoPower International Raises $121M to Build XRP-Based Digital Treasury | BSCN (fka BSC News)

Nasdaq-listed energy company VivoPower International (VVPR) recently announced raising $121 million through a private share placement aimed at building a digital treasury focused on XRP, the cryptocurrency ranked fourth by market capitalization

VivoPower’s announcement marks one of the first publicly traded companies to adopt an XRP-centric treasury model. The company intends to accumulate XRP and invest in the XRPL (XRP Ledger) ecosystem.

The fundraising round was led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, chairman of Eleventh Holding Company, who committed $100 million to the placement. VivoPower plans to issue 20 million ordinary shares priced at $6.05 each, raising approximately $121 million before fees, as outlined in a recent SEC filing.

“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,” Prince Abdulaziz bin Turki Abdulaziz Al Saud stated. “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.”

Backing from Industry Experts

VivoPower also announced the appointment of Adam Traidman as chairman of its board of advisors. Traidman brings deep experience from his tenure as a Ripple executive and his involvement in various blockchain ventures. Ripple, closely associated with the XRP Ledger, is a key player in enterprise blockchain solutions.

Traidman’s presence strengthens VivoPower’s commitment to the XRP ecosystem

“Having been involved with Ripple since its formative years, I've seen the strength and adaptability of the XRPL ecosystem,” Traidman said. “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.”

This move fits a broader trend initiated by companies like MicroStrategy, which popularized holding Bitcoin as a treasury asset. However, VivoPower’s focus on XRP differentiates it from peers concentrating primarily on Bitcoin or other digital assets like Ethereum and Solana.

Why XRP?

XRP has long been viewed as a controversial digital asset due to regulatory scrutiny and market volatility. However, its underlying technology, the XRP Ledger, offers unique features such as fast transaction speeds and low fees, making it attractive for real-world financial use cases.

VivoPower’s plan to build an XRP-based treasury aligns with efforts to develop decentralized finance applications on the XRPL. The company aims to contribute to expanding this ecosystem while leveraging XRP’s potential as a digital reserve asset.

Interestingly, XRP is also expected to be among the digital assets accumulated by the U.S. government as part of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile initiatives announced recently.

Use of Funds and Corporate Evolution

The majority of the $121 million raised will be used to acquire XRP and fund VivoPower’s digital asset treasury operations. Some proceeds will also help reduce the company’s debt and support general corporate needs.

Moreover, VivoPower plans to spin off its existing subsidiaries, Tembo (an electric vehicle company) and Caret Digital (focused on power-to-X digital asset mining), by the end of Q3 2025. This shift will allow the company to concentrate on its new XRP treasury strategy.

VivoPower is also in discussions with Energi Holdings Limited regarding a takeover proposal, with a possible focus on Tembo, further emphasizing the company’s pivot away from legacy businesses.

What This Means for the Future

VivoPower’s move is notable for several reasons. It highlights the increasing willingness of publicly traded companies to integrate digital assets into their core treasury functions beyond Bitcoin. It also represents a rare corporate endorsement of XRP as a key digital asset, which could help shift perceptions around its use and value.

The company’s focus on building out the XRPL ecosystem could drive new applications in DeFi and enterprise blockchain solutions. This aligns with a broader industry trend toward using blockchain technology for more than just trading or speculation.

With shareholder approval expected around mid-June 2025, VivoPower’s plan is still subject to regulatory and corporate governance processes. If successful, the company may set a precedent for other firms considering XRP as part of their treasury diversification.