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A First is Happening Again for XRP! Following the Meeting with Trump, the Giant Company Made a Move Worth 121 Million Dollars!
The big bull Michael Saylor's company Strategy is adopting an overall Bitcoin (BTC) reserve strategy, while a major ***Ripple (***XRP) move came from a company listed on Nasdaq.
According to Coindesk, VivoPower, an energy company established in 2014, announced that it has adopted an XRP treasury strategy and raised $121 million to initiate it.
The collected funds will be used to purchase XRP, establish XRP-focused treasury operations, contribute to the XRPL DeFi ecosystem, reduce debt, and for working capital.
What makes the company's XRP strategy interesting is that it has been led by Saudi Arabia Prince Abdulaziz bin Turki Al Saud, who has long been investing in digital assets and XRP.
Prince Abdulaziz bin Turki Abdulaziz Al Saud said the following:
"We have been investors in the digital asset sector for ten years and we are long-term XRP holders.
After reviewing a number of listed intermediaries seeking to adopt a digital asset treasury model, we chose VivoPower due to its strategic focus on XRP and its goal of contributing to the development of the XRPL ecosystem.
We are honored to lead this capital increase for a company that will be the first in the world to implement an XRP-focused treasury strategy.
The Saudi prince also stated that his team met with US President Donald Trump and the leadership group during their recent visit to Saudi Arabia.
At this point, it appears that the discussions held have played an important role in accelerating the XRP-focused treasury strategy plans.
Adam Traidman, former board member of Ripple and CEO of SBI Ripple Asia, will also serve as chairman of VivoPower's advisory board while being among the investors.
VivoPower announced that with this move, it is the first publicly traded company to adopt an XRP treasury strategy.
*It is not investment advice.
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