VivoPower Soars 32% on $100M Ripple Share Purchase Plan
VivoPower International's stock surged 32% after announcing a $100 million plan to buy shares in Ripple Labs. This move expands its digital asset strategy to include both Ripple equity and XRP tokens, aiming to maximize yield and lower its average XRP acquisition cost to an implied $0.47 per token (an 86% discount based solely on Ripple's XRP holdings).
The Nasdaq-listed company will become the first publicly listed US firm offering investors exposure to both Ripple shares and XRP. VivoPower will partner with BitGo for custody and Nasdaq Private Market for the share transactions, with quarterly audits of its Ripple holdings.
Separately, South Korean custodian BDACS launched regulated institutional custody services for XRP, leveraging its existing partnership with Ripple and Ripple's enterprise custody solution.