VivoPower has also announced that its EV unit will accept Ripple’s RLUSD stablecoin as a form of payment, and it plans to deploy US$30 million in XRP via yield products.
VivoPower International (VVPR)’s mining arm Caret Digital will convert part of its output into XRP because this secures exposure at a 65% discount to market prices, the company said, but did not outline any specific volumes or timelines.
Expanding XRP Exposure
Caret currently mines Bitcoin, Litecoin, and Dogecoin. The firm began its XRP strategy in May with a US$121M (AU$185M) private placement led by Prince Abdulaziz bin Turki bin Talal Al Saud, as Crypto News Australia reported. Notably, Adam Traidman, formerly on Ripple’s board, also joined as adviser. BitGo was later appointed custodian, and Flare partnered on a US$100M (AU$153M) yield program tied to XRP reinvestment.
In August, VivoPower agreed to purchase US$100M (AU$153M) of Ripple Labs shares, pending approval, equating to exposure of 211M XRP at an implied US$0.47 (AU$0.72) — around 86% under prevailing prices.
Beyond treasury moves, VivoPower’s EV unit Tembo will take Ripple’s RLUSD stablecoin as payment, while US$30M (AU$45.9M) of XRP will be deployed via Doppler Finance yield products.
Shares of VivoPower slipped 0.5% to US$5.00 (AU$7.65), giving the company a market capitalisation of about US$50M (AU$76.5M). XRP was trading just above US$3.00 (AU$4.59) Tuesday with a market value of roughly US$182B (AU$278B).
Read more on Crypto News Australia
