VivoPower's Strategic XRP Move and Ripple's OTC Expansion

By: Eva Baxter

VivoPower International has taken a significant step in accelerating its ambitions within the digital asset space by announcing a $121 million private capital raise with a focus on XRP. The funds gathered from selling 20 million ordinary shares are earmarked for establishing an XRP-focused treasury platform. This strategic financial maneuver comes as VivoPower aims to enhance its operations in electric vehicle and solar power solutions, particularly through its subsidiaries Tembo and Caret Digital.

The fundraising round was notably led by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud, alongside participation from institutional digital asset investors and VivoPower’s Chairman Kevin Chin’s investment office. The raised capital will be invested in accumulating XRP and supporting infrastructure developments for real-world decentralized finance (DeFi) applications using the XRP Ledger. This move aligns with the broader initiatives for blockchain adoption, reflecting VivoPower’s recognition of the increasing impact of digital assets in modern finance.

In conjunction with this financial strategy, Adam Traidman, a former member of the Ripple board, has joined VivoPower’s board of advisors as chairman. Traidman’s inclusion is expected to strengthen VivoPower’s resolve in leveraging the XRPL ecosystem. Kevin Chin, reflecting on the decision, highlighted the practical applications of blockchain in their electric vehicle and mining infrastructure projects, underscoring the potential for reduced cross-border payment friction.

In a related move towards expanding digital financial services, Ripple has announced that Hidden Road, its recently acquired prime broker, will offer over-the-counter (OTC) cryptocurrency swaps within the United States. This development marks one of the first significant product launches from Ripple through Hidden Road, enabling institutional investors in the US to engage in cash-settled swaps across multiple major crypto assets. This service will function under the regulatory guidance of Hidden Road Partners, the UK-regulated entity, pushing the boundaries of traditional finance into the dynamic realm of digital assets.