The solar energy company listed at NASDAQ, Vivopower International PLC, saw its actions jump from 32.12% to $ 5.10 Friday after the company announced its intention to buy $ 100 million in private Ripple Labs actions, expanding its cash offices of digital assets focused on XRP.
This decision, which follows two months of reasonable diligence, will see Vivopower acquire Ripple actions directly from existing shareholders, pending approval from the management of Ripple, the company announced in a press release on Friday.
“Our portfolio construction strategy consists in buying a combination of Ripple shares and XRP tokens.
Vivopower will also continue to directly acquire the XRP tokens (XRP), becoming the first US company listed on the stock market to provide exposure to investors both in Ripple Equity and XRP.
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Vivopower Tape Bitgo, Nasdaq for Ripple Share Custody
To manage the strategy, Vivopower will work with Bitgo for the Nasdaq private and private market, Ripple’s favorite partner for private action transactions. An independent auditor will examine its holdings Ripple Quarterly.
Ripple, who created 100 billion XRP at the creation, has burned around 14 million tokens to date and holds 41 billion, mainly in sequestration. Beyond XRP, the company exploits the Rlusd Stablecoin, Digital Asset Prime Broker Hidden Road, the Metaco and Standard Custody & Trust goalkeepers and the rail of the stable payment platform.
Vivopower’s management maintains that the combined strategy will reduce the average acquisition cost per XRP to $ 0.47 implicit, a discount of 86% compared to current market prices, based solely on RIPPLE XRP assets and excluding the value of its other large companies.
According to the company, every $ 10 million in Ripple bought shares could add about $ 5.15 per value share for Vivopower shareholders, although it depends on market volatility.
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Bdacs launches the XRP institutional guard in South Korea
On Tuesday, the South Korean cryptography goalkeeper Bdacs launched regulated childcare services for XRP, following its February partnership with Ripple. Travel operates the undulation guard, a business quality solution, to give the institutions of secure storage and management capacity for XRP.
Earlier this year, Ripple Labs joined forces with the South Korean Cryptian Guardian Bdacs to provide support for the institutional guard for XRP and its stablecoin with American file, Rlusd.
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