Big news for XRP holders — Nasdaq-listed VivoPower International has announced plans to deploy $100 million worth of XRP tokens through the Flare blockchain. The company will use this investment to generate yield, allowing them to earn passive income from their holdings.
This move makes VivoPower one of the first public companies to adopt XRP for treasury operations, following a trend where big firms like MicroStrategy have used Bitcoin in a similar way. What’s even bigger is that VivoPower will also use Ripple’s upcoming USD stablecoin as part of its treasury management system.
For the unversed, while XRP itself doesn’t offer staking like other proof-of-stake blockchains, Flare provides a DeFi platform where assets like XRP can be used to earn yield. This is a huge selling point for institutional investors, who often look for ways to make passive income while holding assets for the long term.
Flare and Ripple both took to social media and announced this partnership, with photos of the signing ceremony.. This deal strengthens the use cases for both XRP and the Flare network, showing more institutional adoption and interest in these projects.
XRP’s price has dropped over 2% in the last 24 hours. Recently, XRP has been moving within a pattern where it climbs for a bit before pulling back. In the current setup, there’s a chance for the price to rise slightly before facing another drop.
This is based on the way XRP has behaved around certain key levels in the past. If the price hits around $2.40, there could be a rejection from that level, triggering a drop. In that case, it’s possible for XRP to fall back to around $1.86, where it has found support in the past.
XRP’s recent price volatility, including dips, could deter some conservative institutions seeking stability. However, its overall bullish potential and growing utility, particularly with Flare, might still attract long-term institutional investors.
VivoPower’s plan to use Ripple’s USD stablecoin (RLUSD) as its primary cash-equivalent reserve enhances treasury stability. RLUSD offers regulatory compliance, consistent value, and efficient management for its digital assets, aligning with institutional needs.
Galaxy Digital Inc. (NASDAQ: GLXY), a financial investment firm focused on the crypto market, has…
Something big is happening at the crossroads of AI, blockchain, and public markets, and this…
Historical crypto charts indicate that small coins, costing less than a penny, often experience explosive…
The cryptocurrency world is buzzing with excitement as Ruvi AI (RUVI) gains momentum as a…
The cryptocurrency market is experiencing a pivotal moment as institutional money floods into digital assets…
Bitcoin is currently in a quiet phase. The price has been moving sideways without any…
