Nasdaq-listed Vivopower International has announced a partnership with Crypto.com for the institutional custody of its digital assets, including XRP. The action is taken as the business positions itself to take advantage of the expanding decentralized finance (DeFi) market and quickens its treasury diversification strategy.
Vivopower Selects Crypto.com for Custody and Trading Access
In a recent release, Vivopower has tapped Crypto.com to provide secure, institutional-grade custody for its expanding digital asset holdings, including its XRP-focused treasury.
Under the arrangement, Crypto.com Custody will safeguard Vivopower’s assets. They would also offer a robust end-to-end solution designed for institutional and high-net-worth clients.
As part of the partnership, Vivopower shares will become tradable via Crypto.com’s broker-dealer platform. This would give both retail and institutional investors seamless access to the company’s equity. Crypto.com users will also enjoy improved liquidity for XRP and other tokens. This would come alongside the opportunity to participate in upcoming XRP restaking through Flare Networks. These networks had earlier signed a partnership deal as they look to reinforce their collaboration.
Crypto.com President Eric Anziani emphasized the firm’s mission to deliver a secure, future-ready platform for digital asset management. At the same time, Vivopower Executive Chairman Kevin Chin noted the significant exposure to Crypto.com’s 150 million-strong user base and the potential for accelerated global expansion.
Furthermore, Crypto.com’s custody services across multiple international jurisdictions will provide us with additional capacity for international growth. We are confident that this partnership will be accretive to our XRP-focused digital asset strategy, as well as Caret’s digital asset mining business.
Vivopower’s Strategic XRP Acquisition and DeFi Integration
The partnership comes after Vivopower made the audacious decision to bolster its XRP reserves. To effectively secure the token at an implied price of $0.47, the company had previously announced plans to purchase $100 million worth of Ripple shares. This move aligns with its main goal of expanding into financial solutions based on blockchain technology.
As mentioned earlier, Vivopower made a $100 million deal with Flare Networks to use XRP. This project aims to capitalize on opportunities in DeFi to generate revenue. It will also help improve the company’s strategy for managing its digital assets.
Vivopower has now positioned itself as one of the first publicly listed companies to establish an XRP-specific treasury. With up to $121 million already raised, the funds will be deployed to acquire XRP. This would also contribute to building out the XRPL ecosystem for real-world blockchain finance applications.
Moreso, vertical farming technology firm Nature’s Miracle unveiled a $20 million XRP treasury program. They intend to use equity financing proceeds to create a long-term reserve. This trend highlights the growing confidence in XRP as a strategic reserve for corporate treasuries.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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