Three Companies Allocate Significant Funds to Hold XRP as Treasury Asset
Three publicly traded companies are allocating significant funds to hold XRP as part of their cash reserves:
- Webus International plans to reserve $300 million.
- VivoPower aims to set aside $121 million.
- Wellgistics Health has earmarked $50 million.
Webus International Plans Huge Reserve
Webus International intends to raise $300 million through non-equity funding, utilizing existing cash and credit lines. The company will acquire XRP for its treasury, collaborating with Samara Alpha Management to enhance global payment services.
VivoPower’s XRP Ambition
VivoPower is dedicating $121 million to create an XRP reserve, following a private placement led by Prince Abdulaziz bin Turki Abdulaziz Al Saud. The company aims to rebrand itself as focused on XRP and leverage it for financial management and transactions.
Wellgistics Health Joins Trend
Wellgistics Health is setting aside $50 million for XRP, intending to streamline payments and reduce fees associated with traditional methods. This investment reflects a broader interest in cryptocurrencies beyond the tech sector.
Growing Interest Among Firms
Other companies are also investing in XRP:
- Worksport announced plans to purchase both XRP and Bitcoin using 10% of its operating cash.
- Ault Capital Group committed $10 million to XRP this year for financial service expansion.
The US government has indicated interest in adding XRP to its digital asset stockpile, suggesting potential value for private firms considering similar investments.