Vivopower International, a Nasdaq-listed energy company, has announced the successful completion of a $121 million private placement aimed at establishing a digital asset treasury strategy focused on XRP, the fourth-largest cryptocurrency by market capitalization. This fundraising round was notably led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, who personally invested $100 million. The company issued 20 million common shares at a price of $6.05 per share as part of this offering.
In conjunction with this development, Vivopower appointed Adam Trideman, a former Ripple executive and former head of SBI Ripple Asia, as chairman of its board of advisors. Ripple is a prominent blockchain service provider closely associated with the XRP Ledger. Following the announcement, Vivopower’s shares surged by as much as 26%, later moderating but still trading approximately 11% higher near $6.75 per share.
This move exemplifies a growing trend among publicly listed companies raising capital to incorporate digital assets into their treasury holdings—a strategy popularized by Michael Saylor’s MicroStrategy, the largest corporate holder of Bitcoin. While Bitcoin remains the most widely held cryptocurrency, recent entrants into this space have diversified their focus to include other digital assets such as Solana and Ethereum.
Founded in 2014, Vivopower intends to be the first publicly traded company to adopt a treasury strategy centered on XRP-based digital assets. The company also plans to segregate this new digital asset initiative from its traditional business operations. Saudi Prince Abdulaziz explained that after evaluating multiple companies, he selected Vivopower due to its strategic emphasis on supporting the growth of the XRP and XRPL ecosystems. With over a decade of experience investing in the digital asset sector, the prince is a long-term holder of XRP.
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