#Xrp🔥🔥
In 24 Hours Three Companies Announce Plans to Buy and Hold XRP as a Strategic Reserve Asset:
#XRP is capturing the attention of notable institutions, with three companies announcing plans to buy and hold it as a strategic treasury asset in a single day.
Although the performance of the broader crypto market has been below expectations this week, #XRP enthusiasts took comfort in the news that three companies have embraced XRP as a treasury asset.
ACG Establishes XRP Reserve
It started with a May 28 announcement from Ault Capital Group (ACG), a subsidiary of Hyperscale Data, which disclosed its intentions to add XRP to its balance sheet. According to the announcement, ACG aims to purchase $10 million worth of XRP by the end of this year to support its expansion into financial services.
The acquired #XRP will be classified as a cryptocurrency asset on ACG’s balance sheet and marked to its fair market value at the end of each reporting period. Changes in the value of ACG’s XRP holdings will be in the company’s operating expenses on the consolidated statement of operations.
Shortly after, ACG announced plans to launch an #XRP lending platform for NYSE-listed companies. The move would allow NYSE-listed companies to borrow a fixed amount of XRP as a loan. Scheduled to launch by Q3 2025, the lending initiative will be backed by ACG’s XRP reserve.
VivoPower to Establish XRP Reserve
Meanwhile, on May 28, Nasdaq-listed VivoPower International disclosed its transformation into the world’s first XRP-focused enterprise. This transformational journey saw the firm raise $121 million via a private placement led by Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
VivoPower will allocate a significant portion of the $121 million funding to purchase and hold XRP, thereby establishing an XRP-focused treasury. Some of the funds will be for investments in the XRPL DeFi ecosystem and related initiatives.
DisClamier: This content is informational and should not be considered financial advice.
