In 24 Hours Three Companies Announce Plans to Buy and Hold $XRP as a Strategic Reserve Asset
1- 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.
2- 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.
3- Webus International to Establish XRP Reserve to Support Global Payments
While enthusiasts were celebrating these incredible milestones, AI-focused company Webus International announced plans for a non-equity financing of up to $300 million to create an XRP strategic reserve. The announcement came a few hours after VivoPower signaled its intention to acquire XRP as a treasury asset.
Webus will utilize the XRP reserve to facilitate global payments, leveraging the asset’s utility in cross-border settlements. In addition to establishing a strategic XRP reserve, it will use part of the funds to accelerate its global expansion and develop an effective blockchain infrastructure.
