Vivopower International PLC (Nasdaq: VVPR) announced on May 28 the launch of a groundbreaking XRP-focused digital asset treasury, the first of its kind by a publicly listed company, backed by a $121 million private placement led by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
Pioneering XRP Treasury Strategy
Vivopower stated it is believed to be the first publicly listed company globally to adopt an XRP-centric digital asset treasury strategy while contributing to the XRPL ecosystem for real-world decentralized finance (DeFi) solutions. The majority of the raised funds will be used to purchase and hold XRP, with additional allocations to XRPL DeFi investments, debt reduction, and general corporate purposes.
“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,” said Adam Traidman, former Ripple board member and now Chairman of Vivopower’s Board of Advisors.
Saudi Royalty Backing
Prince Abdulaziz, a long-term XRP holder with a decade of digital asset investment experience, explained his support: "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 that meetings with President Trump during his recent Saudi visit reinforced the timing for rolling out digital assets and blockchain technology in the Kingdom.
Institutional Milestone
The announcement marks a significant institutional endorsement for XRP. As a Nasdaq-listed entity, Vivopower's treasury play could trigger a wave of corporate adoption, enhancing XRP's role as a strategic reserve asset. The move also underscores growing interest in XRPL for real-world DeFi applications. Following the news, XRP saw modest price gains, reflecting positive market sentiment.