Friday, Vivopower International PLC, a solar energy company listed at NASDAQ, announced that it planned to buy $ 100 million in Ripple Labs shares. With this agreement, the company plans to extend its treasure of digital assets focused on XRP with a discount on current market prices.
Vivopower shares a power of 32%
The vivopower 100 million dollars bet on RIPPLE shares and XRP tokens has considerably strengthened investors’ confidence, sending its actions highly higher by 32.12% to $ 5.10. Kevin Chin, executive president and chief executive officer of Vivopower, said that this initiative aligns the company’s objective to build a sustainable and long -term cash model with a significant increase in shareholders.
This purchase will allow Vivopower to win an indirect exposure to XRP at the cost of around $ 0.47 per token, which represents a discount of 86% compared to current market prices.
The former member of the Board of Directors of Ripple, who is the current president of the Vivopower Advisory Council, Adam Traidman said: “By buying Ripple shares, not only will Vivopower acquire from XRP to evaluations up to an 86% discount compared to the purchase of XRP on the market, will also obtain participation in Ripple Road and Metaco.
In addition, the company will have a complete and direct legal title on the Ripple actions purchased, and it will be registered as an actator directly on the CAP of Ripple.
Ripple extends its Stablecoin activity
The partnership with Ripple can have a positive impact on the participation rate of Vivopower, because the cryptographic company develops rapidly. Currently, it actively extends its activities to stablescoins with an important partnership with BNY Mellon. The company appointed BNY Mellon as the main goalkeeper of the Stablecoin reserves of Rlusd.
This partnership will improve regulatory compliance for Ripple while strengthening confidence in cryptographic investors in order to build a rapidly growing stablecoin institution.
Emily Portney, global manager of asset maintenance at BNY, said in a statement: “As a main guardian, we are delighted to support the growth and adoption of the RUSD by facilitating the transparent movement of reserve assets and money to support conversions and are proud to work in close collaboration to continue to propel the future of the financial system.”
In addition, Vivopower has also approved the fact that Ripple is currently the largest XRP token holder, with $ 41 billion worth around $ 135 billion at the current XRP price. This reflects credible confidence in the partnership between Ripple and Vivopower.
