US-based VivoPower International (VVPW), traded on the Nasdaq stock exchange, announced that it would evaluate $100 million in XRP (XRP) through DeFi protocols.
Joining the recent trend of creating digital asset treasuries, VivoPower International announced on Wednesday that it has partnered with the Flare (FLR) blockchain network. The company will generate income by operating XRP assets through Flare's FAssets system on DeFi platforms.
VivoPower, which aims to generate returns using protocols like Firelight on the Flare network, will use the returns to increase its XRP assets. The company also announced that it would adopt Ripple's payment stablecoin RLUSD as a cash-equivalent reserve.
VivoPower CEO Kevin Chin stated, "It is no longer enough to just hold XRP. Our duty to our shareholders is to make these assets productive. Adopting Ripple's RLUSD stablecoin is one of the cornerstones of our new generation treasury management strategy."
Hugo Philion, co-founder of Flare, described the partnership as an important endorsement of corporate investment, stating, "Our FAssets system is more than just a simple bridge; it provides a secure transition point that allows assets without smart contract capabilities, like XRP, to generate income in DeFi environments."
This step is part of the digital treasury trend popularized by MicroStrategy (MSTR) under the leadership of Michael Saylor with its Bitcoin investments. VivoPower had previously made a $100 million purchase of XRP through BitGo's OTC trading desk.
Last month, VivoPower, which secured $121 million in funding through a private equity placement led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, continues to expand its digital asset treasury.
VivoPower aims to actively distribute XRP assets and generate sustainable income by implementing them in DeFi protocols using the infrastructure provided by Flare.
