Nasdaq-listed VivoPower International PLC has secured a $121 million Regulation S private placement that will fund what it calls the world’s first publicly traded XRP-centric corporate treasury, a move spearheaded by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud, whose Eleventh Holding Company committed roughly $100 million to the round.
VivoPower Bets On XRP
In the subscription agreements, investors purchased 20 million new ordinary shares at $6.05—one cent above the previous close—giving VivoPower an immediate cash position that Executive Chairman Kevin Chin described as “transformational.” The prince’s check is the largest single outlay yet disclosed for an on-balance-sheet XRP reserve and vaults the London-headquartered sustainable-energy firm into digital-asset history as “the first public company executing on an XRP-focused treasury and DeFi strategy,” according to the company’s statement.
“We have been investors in the digital-asset sector for a decade and have been long-term holders of XRP,” Prince Abdulaziz said. “Having met with President Trump and his leadership group during their recent visit to Saudi Arabia, we believe the timing is appropriate for digital assets and blockchain technology to be rolled out in the Kingdom and we are delighted to be assisting VivoPower in this regard.”
Chin, himself an early adopter, told shareholders the influx “allows us to scale a publicly listed XRP-focused treasury company for the benefit of the community and VivoPower stakeholders alike,” adding that potential ledger-based payment rails could ease cross-border frictions faced by the firm’s electric-vehicle unit Tembo and power-to-X subsidiary Caret Digital.
Former Ripple board member and SBI Ripple Asia co-founder Adam Traidman, who joined VivoPower as chair of a new advisory board and invested personally in the placement, called the initiative “a forward-thinking move that reflects growing institutional conviction in real-world blockchain applications.”
The company intends to deploy “the majority” of proceeds to accumulate the token and to seed decentralized-finance projects on the XRP Ledger. Remaining funds will cut debt and supply working capital ahead of planned spin-offs of Tembo and Caret Digital, both targeted for completion before the end of the third quarter. Closing of the placement awaits a shareholder vote scheduled for 18 June 2025 and other customary conditions.
VivoPower highlighted language in the March White House executive order establishing a Strategic Bitcoin Reserve and US Digital Asset Stockpile, contending that XRP “is expected to be one of five digital assets that will be accumulated by the US Government as part of President Donald Trump’s recently announced Strategic Bitcoin Reserve and United States Digital Asset Stockpile.”
The announcement drew swift reaction on X. Analyst @nietzbux called the deal “one of the more bullish events in XRP history,” likening VivoPower to a “MicroStrategy for XRP.” Popular commentator @AbsGMCrypto added that the prince’s timing, following his meeting with President Trump, is “massive news.”
If shareholders ratify the raise next month, VivoPower will hold a nine-figure pool of the token on its balance sheet, providing the first real-time test of whether a single-token corporate treasury can reproduce—and perhaps broaden—the playbook that rewrote Bitcoin’s relationship with publicly traded capital.
At press time, XRP traded at $2.28.
Featured image created with DALL.E, chart from TradingView.com
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