XRP joins crypto treasury trend as VivoPower raises $121 million to launch XRP reserve
- Nasdaq-listed VivoPower raised $121 million in a private offering with investors.
- The company will use most of the proceeds to establish its XRP treasury strategy.
- XRP is down nearly 2% despite the announcement, stretching its weekly losses above 5%.
XRP slipped more than 2% on Wednesday as VivoPower announced plans to become the first publicly traded company to adopt XRP as a treasury reserve asset. The announcement follows the company’s completion of a $121 million private offering.
VivoPower poised to be first XRP treasury-backed company
Electrical energy company VivoPower announced that it entered into an agreement with investors for a private offering. The company issued an aggregate of 20 million shares at an…
