Vivopower International, the historian listed in NASDAQ, has witnessed that its shares jump by 32.12 % to $ 5.10 on Friday after the company announced plans to purchase Ripple Labs shares of $ 100 million, which expands the digital treasury strategy that focuses on XRP.
This step, which follows two months of due care, will witness that Vivopower acquires Ripple shares directly from current shareholders, pending approval from the executive Ripple, the company He said In a press release on Friday.
“The strategy of building our portfolio is to purchase a set of Ripple shares and XRP symbols. This will allow us to improve the maximization of the return while also reducing the average cost of the acquired XRP,” said Kevin Chen, CEO and CEO of Vivopower.
VivoPower will also continue to get XRP (XrpDistinguished symbols, to become the first American company publicly listed to provide investors by exposure to Ripple Equity and XRP.
Related to: Sbi Holdings denies reports that they were submitted to Bitcoin-XRP ETF in Japan
Vivopower Taps Bitgo, Nasdaq for custody
To manage the strategy, VivoPower will work with BITGO for nursery and the NASDAQ private market, the favorite partner of Ripple for private stock transactions. An independent auditor will review the quarterly Ripple Holdings.
Ripple, which created 100 billion XRP at first, burned about 14 million symbols so far and got 41 billion, most of which are in the guarantee. Besides XRP, the company runs RLUSD Stablecoin, the PRIME HEDEN ROAD, Customs Metaco, Standant Customy & Trust and Stableco Platform Platform.
The VivOPOWER administration argues that the joint strategy will reduce the average cost of acquisition per XRP to $ 0.47 implicitly, and 86 % discount on current market prices, based only on the XRP holdings of Ripple and excluding the value of its other business lines.
According to the company, it can add every $ 10 million of Ripple shares that have been purchased at an estimated $ 5.15 per share for shareholders in Vivopower, although this depends on market fluctuations.
Related to: The new infrastructure aims to awaken the dormant XRP market of $ 200 billion
BDACS launches XRP Corporation in South Korea
On Tuesday, Crypto Crotrodian Bdacs XRP organized nursery services were launchedAfter her partnership in February with Ripple. This step works to take advantage of the Ripple CUPPLE, which is a solution at the level of institutions, to give institutions the possibilities of storage and safe management of XRP.
Earlier this year, Ripple Labs Partnership with South Korea Crypto Custodian Bdacs To provide support for the institutional custody of XRP and Stablecoin accumulated in US dollars, RLUSD.
magazine: The father and son team lists XRP in Africa on the Canadian Stock Exchange
