- BitGo partners with VivoPower to purchase $100M worth of XRP for its treasury acquisition strategy.
- The platform’s over-the-counter trading desk will manage VivoPower’s XRP purchase.
- VivoPower files for a public offering while leveraging BitGo for digital asset strategy.
BitGo, one of the top digital asset platforms, has partnered with publicly listed VivoPower International PLC to support their purchase of $100 million worth of XRP. This partnership supports VivoPower’s initiative to integrate XRP into its treasury strategy and explore decentralized finance (DeFi) solutions. Both trading and storing of the XRP will be handled by BitGo, which highlights the major progress the company is making in digital assets.
The deal indicates that BitGo will act as the only over-the-counter (OTC) exchange for VivoPower’s transactions with XRP. Acquisition of digital assets on BitGo’s OTC desk can be carried out using the firm’s 24/7 trading system.
VivoPower’s assets are securely held in cold storage on BitGo’s institutional-grade platform. The company believes that VivoPower’s digital asset strategy will be enhanced by leveraging the platform’s robust infrastructure and global liquidity pools. As the digital assets held by VivoPower increase, BitGo’s security is essential.
VivoPower Leverages BitGo’s Expertise for Digital Asset Strategy
Kevin Chin, CEO of VivoPower, stated that the company is focused on developing a leading digital asset treasury. He insisted that following BitGo’s lead in secure and reliable proof-of-reserves procedures will help meet their goals. Chin views this collaboration as a means to enhance shareholder value and enable VivoPower to implement its XRP-based treasury plan.
Mike Belshe, BitGo’s CEO, was pleased with the new partnership and stated that institutional activity around digital assets is picking up. According to Belshe, BitGo is the ideal fit for organizations making their first foray into digital assets. He pointed out that BitGo’s fast and reliable services would ensure VivoPower’s progress in the crypto space.
BitGo Boosts Custody and Trading with VivoPower Deal
With this partnership, BitGo becomes a more trusted custodian and a preferred OTC trading partner. BitGo specializes in making large-scale trades discreetly, using its global liquidity to achieve this. The partnership with VivoPower helps BitGo reach more institutional clients in the industry.
Related: Webus Signs $300M Deal with Samara Alpha for XRP Treasury Management
VivoPower is moving forward with its public offering of ordinary shares. The company has filed a document called a registration statement with the U.S. Securities and Exchange Commission (SEC). Investors considering an investment should carefully review all the official information before making a decision.
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