Ah, the theater of finance! Behold, the Nasdaq-listed solar jesters, VivoPower International PLC, saw their shares leap like a courtier dodging a pie, soaring 32.12% to $5.10 on Friday. Why, you ask? They’ve concocted a scheme to purchase $100 million worth of Ripple Labs shares, a move as bold as a fop in a duel! 🗡️ This, dear reader, is to expand their XRP-focused digital treasure chest, a strategy as intricate as a Molière plot twist! 😏
After two months of due diligence-a phrase that sounds more like a doctor’s diagnosis than a business maneuver-VivoPower shall acquire Ripple shares directly from existing shareholders, pending the nod from Ripple’s executive overlords. Thus spake Kevin Chin, their executive chairman and CEO, with a flourish: “Our portfolio construction strategy is to buy a combination of Ripple shares and XRP tokens. This will allow us to optimize for yield maximization while also minimizing the weighted average cost of XRP acquired.” 🧮 A mouthful, indeed, but who doesn’t love a good maximization?
VivoPower, ever the pioneer, shall also continue hoarding XRP tokens, becoming the first publicly listed US firm to offer investors a double dip into Ripple equity and XRP. Bravo! 👏
VivoPower Enlists BitGo and Nasdaq: A Custody Farce
To manage this grand strategy, VivoPower shall dance with BitGo for custody and Nasdaq Private Market, Ripple’s preferred partner for private share transactions. An independent auditor shall review their Ripple holdings quarterly, lest they be accused of financial tomfoolery! 📜 Ripple, the creator of 100 billion XRP, has burned a mere 14 million tokens and holds 41 billion, mostly in escrow. Beyond XRP, they juggle the RLUSD stablecoin, digital asset prime broker Hidden Road, custodians MetaCo and Standard Custody & Trust, and the stablecoin payment platform Rail. A true circus of finance! 🎪
VivoPower’s wise men claim this strategy will lower the average acquisition cost per XRP to a mere $0.47, an 86% discount to current market prices. Based solely on Ripple’s XRP holdings, mind you, and excluding the value of their other business lines. Every $10 million in Ripple shares purchased could add an estimated $5.15 per share in value for VivoPower shareholders, though this, like all things in life, depends on the whims of market volatility. 🌪️
BDACS Joins the XRP Custody Ballet in South Korea
Meanwhile, in the land of kimchi and crypto, South Korean custodian BDACS launched regulated custody services for XRP on Tuesday, following their February partnership with Ripple. They employ Ripple Custody, an enterprise-grade solution, to offer institutions secure storage and management capabilities for XRP. Earlier this year, Ripple Labs partnered with BDACS to provide institutional custody support for XRP and its US dollar-backed stablecoin, RLUSD. A match made in blockchain heaven! 💍
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2025-08-09 14:05