Vivopower International (VVPW), the Nasdaq-Genten company that switches to a digital assets Treasury game, has plans to place $ 100 million in XRP
XRP$ 2.31
tokens to work.
The company announced on Wednesday that it cooperates with Layer-1 Blockchain Flare
FLR$ 0.018798
To use $ 100 million XRP to generate proceeds on his treasury holdings.
The initiative marks the first large-scale use of Flare’s Fassets system, with which non-SMART contract tokens such as XRP can interact with decentralized finance (Defi) protocols, according to the press release.
Vivopower is planning to generate proceeds via Flare-Native Protocols such as Firelight and to invest the income again to expand its XRP companies. The company said it will also take on the RLUSD Stablecoin of the Ripple payment agency if his cash equivalent reserve.
“It is no longer enough to just keep XRP; the duty towards our shareholders is to make it productive,” said CEO and executive chairman Kevin Chin in a statement. “The adoption of Ripple’s Rlusd is a cornerstone of this strategy and offers stability and compliance that this next generation of treasury requirements.”
For Flare, the deal is a milestone of institutional validation, said Flare co-founder Hugo Philion. “Our Fassets system […] Is more than just a bridge; It is a gateway with which institutions can bring assets such as XRP to programmable Defi environments to generate yields while retaining their fundamental safety, “he said.
Vivopower is part of the growing schedule of public companies that raise money to buy digital assets and add them to their treasuries, made a playbook made popular by Michael Saylor’s Strategy (MSTR) that has become the largest company holder of Bitcoin
BTC$ 109,453,65
.
The newest step from the company comes shortly after tapping the freely available Bitgo trade desk for acquiring an initial trench of $ 100 million from XRP tokens.
Vivopower said last month that it concluded an agreement for a private sharing of $ 121 million, with the fundraising under the leadership of Saudi -Prins Abdulaziz bin Turki Abdulaziz Al Saud, chairman of the highest holding, according to a sec entering.