In the race to build a strong crypto reserve, Ripple’s XRP is making big progress and gaining more attention than ever. Recently, three major companies—Wellgistics Health, VivoPower International, and Webus International, announced plans to use XRP as a treasury reserve asset for their businesses.
Let’s see how this could impact XRP’s future.
Wellgistics Health, a pharmaceutical company that distributes medicines in the US, shared exciting news. They have a $50 million credit line to help them start using XRP for real-time payments.
This means they want to move away from old, slow payment systems and use Ripple’s blockchain to make faster and more secure payments. It could be a smart move that helps them stay ahead of the competition.
VivoPower International PLC has also shown its keen interest in creating an XRP-based digital asset treasury. They recently raised $121 million with help from Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
Out of that money, $100 million will be used to buy XRP tokens.
VivoPower wants to be one of the first companies in the world to focus on using XRP in its business. They are working with BitGo to make sure they buy and hold XRP safely.
Webus International, a China-based travel and hospitality giant, the company has shared plans to raise $300 million. This money will create a strategic XRP reserve, according to documents filed with the US SEC.
Webus wants to tap into Ripple’s powerful blockchain network to simplify cross-border transactions. The idea is simple, faster payments and better transparency for their global bookings.
Meanwhile, some experts believe that these big plans could help XRP become even more important. Right now, XRP’s price is trading around $2.18, almost 33% down from its all-time high of $3.38.
Another interesting thing is that the big institutions are holding XRP shows there is real demand and trust in it. This could make it easier for regulators to approve an XRP ETF in the future.
An XRP Strategic Reserve refers to companies or potentially governments holding XRP as a treasury asset to facilitate fast, low-cost international payments and manage liquidity.
Experts believe increased corporate adoption of XRP could significantly boost its importance and price, potentially paving the way for an XRP ETF.
Wellgistics Health, VivoPower International, and Webus International have announced plans to use XRP for treasury reserves and real-time payments.
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