Vivopower International (VVPW), the company listed at the Nasdaq transitioning in a cash game of digital assets, plans to put $ 100 million from XRP
Let’s throw at work.
The company announced on Wednesday that it had teamed up with the Blockchain Flare of a layer-1
To deploy XRP dollars to generate a yield on its treasure assets.
The initiative marks the first large -scale use of the Flare system, which allows non -intelligent contractual tokens like XRP to interact with decentralized finance protocols (DEFI), according to the press release.
Vivopower plans to generate a yield via native rocket protocols such as Firelight and reinvest income to extend its XRP holdings. The company said that it would also adopt the stablecoin of the RUSD payment company as a reserve equivalent in cash.
“It is no longer enough to contain XRP; the obligation towards our shareholders is to make it productive,” said CEO and executive president Kevin Chin in a press release. “The adoption of the Rusd of Ripple is the cornerstone of this strategy, offering the stability and conformity that this request from the new generation treasure.”
For Flare, the agreement is an important step in institutional validation, underlined the co-founder of Flare, Hugo Philion. “Our system makes […] is more than just a bridge; It is a bridge that allows institutions to bring assets like XRP in programmable challenges to generate a return, while retaining their basic security, “he said.
Vivopower is part of the growing list of public enterprises collecting funds to buy and add digital assets to their treasury bills, a game book popularized by Michael Saylor’s strategy (MSTR) which has become the biggest Bitcoin company holder
.
The last decision of the company occurs shortly after relying on the Bitgo -free on -the -counter negotiation negotiations for acquiring a first $ 100 million trench in XRP tokens.
Vivopower last month said that he had entered into an agreement for a private action placement of $ 121 million, the fundraising led by Saudi Prince Abdulaziz Bin Turki Abdulaziz Al Saud, president of the eleventh portfolio company, according to a dry file.
