ViVoPower to Deploy $100 Million in XRP on Flare, Price Breakout Soon?

VivoPower is set to invest $100 million in XRP, taking advantage of Flare FAsset system, just after it launched its XRP Treasury strategy.

Hamza Tariq By Hamza Tariq Hamza Tariq Editor Hamza Tariq Updated 4 mins read
ViVoPower to Deploy $100 Million in XRP on Flare, Price Breakout Soon?

Key Notes

  • VivoPower International announced the deployment of $100 million of XRP on Flare Network.
  • Flare says the move is a milestone, highlighting institutional validation of the network.
  • XRP price has seen an uptick following the focus from institutional investors.

Following the launch of its XRP Treasury strategy, Nasdaq-listed VivoPower International has announced the deployment of $100 million worth of XRP XRP $2.24 24h volatility: 3.8% Market cap: $131.55 B Vol. 24h: $2.22 B on Flare Network.

This holding is expected to earn yield and stack more XRP. It also marks a major investment in the XRP ecosystem.

Flare Recognizes Institutional Validation With VivoPower Deal

According to an announcement made on June 11, VivoPower has partnered with Layer-1 blockchain Flare to deploy this $100 million XRP holding.

Interestingly, this is the first large-scale utilization of Flare’s FAssets system, which facilitates the interaction between non-smart contract assets like XRP and Decentralized Finance (DeFi) protocols.

Flare recognizes VivoPower’s recent action as a milestone that highlights institutional validation of the network. Flare co-founder Hugo Philion described the FAssets system as more than a bridge.

Instead, he termed it a gateway that allows institutions to bring assets like XRP into programmable DeFi environments to generate yield.

Philion noted that the FAssets system achieves this milestone without compromising its security.

VivoPower is largely focused on generating yield by leveraging Flare-native protocols like Firelight. The potential income from the transactions will be reinvested to expand its XRP holdings.

It also intends to adopt RLUSD, the United States dollar-pegged stablecoin issued by blockchain payments firm Ripple Labs, as its cash-equivalent reserve.

Kevin Chin, VivoPower CEO and Executive Chairman, emphasized a growing need for XRP holders to make their assets more productive, rather than simply HODLing.

“Adopting Ripple’s RLUSD is a cornerstone of this strategy, providing the stability and compliance this next-generation treasury demands,” Chin added.

VivoPower Raised $121 Million to Achieve XRP Treasury Strategy Plan

Only about two weeks have passed since VivoPower International launched the world’s first XRP-based crypto asset treasury strategy among publicly listed companies. This was after it secured $121 million in the private placement led by Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.

Most of the funds went towards the acquisition of XRP and the establishment of a digital asset treasury. Amongst its other plans is the launch of a new DeFi team.

Amidst this exciting news of an XRP treasury strategy launch, the coin did not see wide swings in terms of price performance. At the moment, the coin traded at $2.28, reflecting some price dip.

However, with VivoPower’s investment of $100 million, XRP has recorded a slight price gain, signaling a potential price rebound.

At press time, it traded at $2.30 after gaining 2.38% over the last 24 hours. The coin may be able to sustain the price gain, especially with the attention that the XRP ecosystem is gaining in recent times.

As reported earlier, the Ondo Finance Short-Term US Government Treasuries (OUSG) recently went live on the XRP Ledger (XRPL).

Be Part of the SUBBD Presale!

Like XRP, which is currently enjoying the spotlight, SUBBD is also gaining traction within the crypto ecosystem. SUBBD is designed as an Artificial Intelligence (AI) agent platform offering as high as 20% in staking reward.

Its presale is currently ongoing, with 1 unit of SUBBD going for $0.05565. According to the presale website, the token behind the project is on track to power the next generation of content creators.

With only about two days left until the end of the presale, SUBBD has successfully secured $647K from early investors.

The Ultimate SUBBD Appeal

SUBBD boasts a network of over 250 million users, granting unparalleled access to the world’s top influencers.

Creators and fans enjoy direct connections through Web3 tools, share exclusive content, and unlock new forms of engagement while benefiting from native token incentives and lower fees.

Current Presale Stats:

Current Price: $0.05565

Amount Raised So Far: $647,466

Blockchain: Ethereum

Ticker: SUBBD

This is a perfect investment for those seeking high-yield returns. VIPs enjoy even more exclusive staking benefits.

To join the presale, you can make a purchase using your card or with crypto.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News
Hamza Tariq

Hamza is an experienced crypto editor/writer with a deep understanding of blockchain technology, cryptocurrency markets, and digital finance. He is passionate about making complex topics accessible and helping readers navigate the fast-evolving world of crypto.

Hamza Tariq on LinkedIn