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Nasdaq-listed VivoPower has selected crypto exchange Crypto.com as the custodial partner for its XRP treasury strategy.
Summary
- VivoPower has integrated Crypto.com as a custody provider to power its XRP treasury asset strategy.
- Nasdaq-listed VivoPower teamed up with BitGo in June.
- XRP is one of the top cryptocurrencies in the market and continues to attract institutional interest.
VivoPower International PLC, the sustainable energy solutions firm transitioning into an XRP (XRP)-focused digital asset enterprise, announced that it had struck a strategic partnership with Crypto.com, with the crypto exchange set to become VivoPower’s crypto custody partner.
The company will use Crypto.com Custody, the institutional-grade custody solution by Crypto.com, to expand its digital asset treasury.
VivoPower’s shares will also be available for trading via Crypto.com’s broker-dealer, a move aimed at bringing more visibility to VVPR shares among both retail and institutional investors. The VivoPower stock will be listed on Crypto.com, giving VVPR exposure to more than 150 million exchange users.
“We are very pleased to have signed this partnership with Crypto.com to facilitate a listing for VivoPower on Crypto.com’s Stock platform, providing exposure to Crypto.com’s 150 million crypto native user base,” said Kevin Chin, executive chairman of VivoPower. “Furthermore, Crypto.com’s custody services across multiple international jurisdictions will provide us with additional capacity for international growth.”
Chin said his company is confident that the collaboration will bolster VivoPower’s XRP treasury strategy. He also noted that Crypto.com will play a role in supporting Caret’s digital asset mining operations.
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VivoPower targets treasury asset momentum
Founded in 2014, VivoPower has traded on Nasdaq since 2016 and has a presence across the United Kingdom, North America, Europe, Australia, and the Middle East, among other regions. Its Caret Digital business unit focuses on renewable power use, including in digital asset mining.
VivoPower plans to be a major player for XRP as well as the XRP Ledger. Its eyes are on the rapidly expanding decentralized finance and real-world assets ecosystem on the Ripple blockchain network.
The company’s pivot toward crypto as a treasury asset aligns with broader market trends. Public companies such as SharpLink Gaming and BitMine are moving into Ethereum, while VivoPower seeks to capture similar momentum as one of the top U.S.-listed companies offering exposure to XRP as a yield-generating asset.
The company revealed its plans to buy $100 million worth of XRP via BitGo in June.
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