VivoPower International (VVPW) Deploys $100M of XRP Tokens on Flare Networks to Explore DeFi Expansion

Nasdaq-listed VivoPower International (VVPW) has inked a strategic partnership with Flare Networks, deploying $100 million worth of XRP tokens.

Nasdaq-listed VivoPower International (NYSE: VVPW) has announced a strategic partnership with Flare Networks to deploy $100 million worth of XRP tokens. The move will see the company contribute to a new chapter in decentralized finance (DeFi) and unlock avenues for persistent revenue generation.

As shared via X post earlier today by layer 1 blockchain platform Flare Networks, the collaboration will see the integration of its FAssets system with VVIPW’s treasury.

According to reports, the partnership will see the Nasdaq-listed company deploy $100 million of XRP on Flare. The partnership will also see the company transition to digital asset treasury management. In essence, this will see the company generate yields on its treasury assets.

Importantly, the alliance signifies the inaugural large-scale deployment of FAssets, an innovation that will empower XRP to engage in DeFi opportunities through protocols like Firelight. This will generate yield, which will be recycled to further expand VivoPower’s XRP allocation. Moreover, the platform will incorporate Ripple’s RLUSD stablecoin as a cash-equivalent reserve asset.

Kevin Chin, CEO of VivoPower, remarked, “It’s no longer enough to simply hold XRP; the duty to our shareholders is to make it productive. Adopting Ripple’s RLUSD is a cornerstone of this strategy, providing the stability and compliance this next-generation treasury demands.”

Meanwhile, the deal is a significant development for Flare in terms of institutional validation. As shared by Hugo Philion, co-founder of Flare, the company’s FAssets system serves as a gateway for institutions to tap into DeFi opportunities with assets like XRP.

“Our FAssets system, already deployed on Flare and available for immediate use, is more than just a bridge; it’s a gateway that allows institutions to bring assets like XRP into programmable DeFi environments to generate yield, all while retaining their fundamental security,” Philion stated.

Recently, as CoinGape reported, VivoPower became the first public company to establish an XRP-focused Treasury. Commencing with an investment of $121 million, the company has plans to acquire additional tokens. The fundraising initiative was led by Prince Abdulaziz bin Turki Abdulaziz Al Saud, Chairman of Eleventh Holding Company.

Having invested in the digital asset sector for a decade and been a long-term holder of XRP, Al Saud added, “After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out of the XRPL ecosystem.”

Recently, VivoPower partnered with BitGo to acquire $100 million worth of XRP tokens. This move follows a growing trend of platforms investing in the digital asset.

Elsewhere, Webus is also exploring XRP integration and has plans to raise $300 million through non-equity financing sources for its new Web3 venture.