VivoPower Considers $100 Million Ripple Investment to Enhance XRP Exposure and Shareholder Value
Main Idea
VivoPower International PLC plans to invest $100 million in Ripple Labs shares to enhance its exposure to XRP, leading to a significant surge in its stock price.
Key Points
1. VivoPower's shares surged 32.12% to $5.10 following the announcement of the $100 million investment in Ripple Labs shares.
2. The acquisition is pending approval from Ripple’s executive management and follows two months of due diligence.
3. VivoPower aims to optimize yield by purchasing a combination of Ripple shares and XRP tokens, positioning itself as the first publicly listed US firm to offer exposure to both.
4. VivoPower will collaborate with BitGo for custody services and Nasdaq Private Market for quarterly valuation of its Ripple holdings.
5. Ripple holds around 41 billion XRP, primarily in escrow, and operates the RLUSD stablecoin alongside other digital asset services.
Description
VivoPower is set to purchase $100 million in Ripple Labs shares, significantly boosting its XRP-focused digital asset strategy and causing shares to surge over 32%. VivoPower’s shares jumped 32.12% to
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