- Nasdaq’s VivoPower (VVPR) announces $121M fundraise to establish an XRP digital treasury.
- Saudi Prince Abdulaziz bin Turki Al Saud is a key backer, committing $100M to this XRP plan.
- VivoPower aims to be first public XRP-centric treasury, driving XRP adoption & XRP Ledger DeFi.
The XRP ecosystem could be in for a significant boost in adoption, as Nasdaq-listed energy firm VivoPower (VVPR) has announced an ongoing fundraising effort to build an XRP digital treasury.
The company is targeting $121 million for this venture, which is aimed at raising XRP adoption. According to a recent announcement, a substantial portion of this funding, $100 million, is slated to come from Saudi Prince Abdulaziz bin Turki Al Saud.
VivoPower Details $121M XRP Treasury Goal, With Major Backing from Saudi Prince Abdulaziz
Under the plan, VivoPower is seeking to raise a total of $121 million. His Royal Highness Prince Abdulaziz bin Turki Al Saud, who chairs the Eleventh Holding Company, is reportedly committing $100 million, which constitutes approximately 80% of the targeted sum. To secure the additional capital, VivoPower also plans to issue 20 million new shares at a price of $6.05 each.
In the meantime, VivoPower plans to channel the capital towards XRP accumulation and building the XRP Ledger DeFi ecosystem. The aim is to establish VivoPower as the first publicly listed XRP-centric treasury firm. The company’s shareholders must approve the deal through a voting process, which it has scheduled for June 18, 2025.
Strategy to Mirror Saylor’s Bitcoin Model for XRP Adoption and Public Treasury
VivoPower is aligning its XRP treasury goals with Strategy’s Bitcoin treasury model championed by the renowned Bitcoin investor Michael Saylor. Although most corporations lean towards BTC and ETH, VivoPower intends to chart a new course by pioneering an XRP treasury and pushing the altcoin’s adoption into the mainstream.
Related: After Bitcoin, Ethereum ETFs, Focus Shifts to Altcoins; XRP Leads with 83% Approval Odds
The announcement by the Nasdaq-listed company has been received as positive news by many XRP holders, contributing to bullish sentiment for the XRP token, as such. It brings out a constructive outlook for XRP’s future, particularly as the market awaits a final resolution in the ongoing Ripple vs. US SEC legal case.
Related: Confirmed: XRP Bull Flag Puts $5.50 Price Target on the Map
XRP traded for $2.2925 at the time of writing, reflecting the crypto market’s low volume amid a slight retracement over the past few days. However, adoption moves like the VivoPower treasury could trigger a significant demand for the crypto asset, directly affecting its value and in line with the growing bullish momentum in the crypto market.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
