Vivopower launches $100 million XRP strategy with BitGo partnership

Vivopower International PLC, listed on Nasdaq as VVPR, has announced a strategic partnership with Bitgo to support its $100 million acquisition of XRP (CRYPTO:XRP) as part of a shift toward becoming an XRP-focused treasury and decentralised finance solutions company.

The collaboration, announced on June 2, designates Bitgo as Vivopower’s exclusive provider for both trading and custody services.

Vivopower will utilise Bitgo’s over-the-counter trading desk, which operates around the clock, and its secure asset storage systems for managing its XRP holdings.

This move follows Vivopower’s recent $121 million capital raise and marks a significant step in the company’s digital transformation.

Vivopower, which operates in battery technology and electric vehicle services, is positioning this XRP initiative at the center of its evolving business model.

“Vivopower is committed to driving value for our shareholders by building out a leading digital asset treasury strategy—a mission we plan to accomplish through partnerships with best-in-class digital asset leaders like Bitgo,” Executive Chairman and CEO Kevin Chin stated.

Chin emphasised the importance of institutional-grade infrastructure, noting that Bitgo’s platform aligns with Vivopower’s long-term objectives.

“Vivopower’s commitment to digital assets is a testament to the institutional momentum building around our ecosystem,” said Bitgo CEO Mike Belshe commented on the partnership.

“We are proud to provide the comprehensive platform that companies like Vivopower need to enter the digital asset space with confidence—from seamless execution to industry-leading custody,” Belshe added.

Vivopower stated it aims to support the growth and utility of the XRP Ledger by contributing to decentralised finance infrastructure and real-world blockchain applications.

While there are ongoing concerns about volatility and regulatory challenges in the crypto sector, Vivopower’s move is seen by some as reinforcing the role of blockchain technology in global finance.

At the time of reporting, the XRP (XRP) price was $2.20.