ViVoPower to Deploy $100 Million in XRP on Flare Network
VivoPower International has initiated a $100 million deployment of XRP on the Flare Network, following its XRP Treasury strategy launch. This investment aims to generate yield and enhance XRP holdings.
Key Highlights
- Partnership with Flare marks the first large-scale use of the FAssets system for integrating non-smart contract assets like XRP into DeFi protocols.
- VivoPower plans to leverage Flare-native protocols, particularly Firelight, for yield generation.
- The company will adopt Ripple's RLUSD stablecoin as part of its treasury strategy, emphasizing stability and compliance.
- VivoPower raised $121 million recently to fund its XRP treasury strategy, primarily through private placement.
- XRP price saw a minor gain, trading at $2.30, reflecting a 2.38% increase in the last 24 hours.
- Recent developments include the launch of Ondo Finance Short-Term US Government Treasuries (OUSG) on the XRP Ledger.
VivoPower’s CEO highlighted the importance of making XRP assets productive rather than merely holding them. The firm is also establishing a new DeFi team as part of its strategic direction.