Gate News bot news, Nasdaq-listed company VivoPower International (VVPW) will adopt a digital asset financial strategy, planning to invest 100 million USD in XRP.
The company announced on Wednesday that it has partnered with Layer 1 blockchain Flare to deploy $100 million worth of XRP to generate returns on its treasury holdings.
This plan marks the first large-scale application of the Flare FAssets system, which enables non-smart contract tokens like XRP to interact with DeFi protocols.
VivoPower plans to generate revenue through native Flare protocols like Firelight and reinvest the profits to expand its XRP holdings. The company also stated that it will adopt the RLUSD stablecoin from payment company Ripple as its cash equivalent reserves.
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VivoPower, a publicly listed company, will deploy $100 million XRP on Flare and use RLUSD as reserves.
Gate News bot news, Nasdaq-listed company VivoPower International (VVPW) will adopt a digital asset financial strategy, planning to invest 100 million USD in XRP.
The company announced on Wednesday that it has partnered with Layer 1 blockchain Flare to deploy $100 million worth of XRP to generate returns on its treasury holdings.
This plan marks the first large-scale application of the Flare FAssets system, which enables non-smart contract tokens like XRP to interact with DeFi protocols.
VivoPower plans to generate revenue through native Flare protocols like Firelight and reinvest the profits to expand its XRP holdings. The company also stated that it will adopt the RLUSD stablecoin from payment company Ripple as its cash equivalent reserves.
Source: CoinDesk