Nasdaq-listed VivoPower has chosen crypto change Crypto.com because the custodial companion for its XRP treasury technique.
Abstract
- VivoPower has built-in Crypto.com as a custody supplier to energy its XRP treasury asset technique.
- Nasdaq-listed VivoPower teamed up with BitGo in June.
- XRP is among the high cryptocurrencies available in the market and continues to draw institutional curiosity.
VivoPower Worldwide PLC, the sustainable vitality options agency transitioning into an XRP (XRP)-focused digital asset enterprise, introduced that it had struck a strategic partnership with Crypto.com, with the crypto change set to develop into VivoPower’s crypto custody companion.
The corporate will use Crypto.com Custody, the institutional-grade custody answer by Crypto.com, to develop its digital asset treasury.
VivoPower’s shares may also be accessible for buying and selling by way of Crypto.com’s broker-dealer, a transfer aimed toward bringing extra visibility to VVPR shares amongst each retail and institutional buyers. The VivoPower inventory can be listed on Crypto.com, giving VVPR publicity to greater than 150 million change customers.
“We’re more than happy to have signed this partnership with Crypto.com to facilitate a list for VivoPower on Crypto.com’s Inventory platform, offering publicity to Crypto.com’s 150 million crypto native person base,” mentioned Kevin Chin, government chairman of VivoPower. “Moreover, Crypto.com’s custody companies throughout a number of worldwide jurisdictions will present us with extra capability for worldwide development.”
Chin mentioned his firm is assured that the collaboration will bolster VivoPower’s XRP treasury technique. He additionally famous that Crypto.com will play a task in supporting Caret’s digital asset mining operations.
VivoPower targets treasury asset momentum
Based in 2014, VivoPower has traded on Nasdaq since 2016 and has a presence throughout the UK, North America, Europe, Australia, and the Center East, amongst different areas. Its Caret Digital enterprise unit focuses on renewable energy use, together with in digital asset mining.
VivoPower plans to be a significant participant for XRP in addition to the XRP Ledger. Its eyes are on the quickly increasing decentralized finance and real-world belongings ecosystem on the Ripple blockchain community.
The corporate’s pivot towards crypto as a treasury asset aligns with broader market developments. Public corporations equivalent to SharpLink Gaming and BitMine are shifting into Ethereum, whereas VivoPower seeks to seize related momentum as one of many high U.S.-listed corporations providing publicity to XRP as a yield-generating asset.
The corporate revealed its plans to purchase $100 million value of XRP by way of BitGo in June.
