Vivopower International (VVPR), an energy company that is in Nasdaq, said Wednesday that he has secured $ 121 million in a placement of private actions to finance his pivot to the treasure of digital assets centered on XRP
the fourth largest cryptocurrency for market capitalization.
The increase was directed by the Saudi prince Abdulaziz Bin Turki Abdulaziz to the Saud, investing $ 100 million, a company spokesman said to Coindesk. The company sold 20 million ordinary shares with a price of $ 6.05 per share.
Adam Traidman, a former Ripple executive who led the SBI Ripple Asia, joins the company as president of the Board of Advisors, according to the press release. Ripple is a Blockchain service provider focused on the company closely related to the Book Mayor XRP.
Vivopower’s actions increased to 26% in the news before returning some of the profits. Recently, more than 11%increased, quoting around $ 6.75.
The measure is the last example of public companies that raise money to buy and add digital assets to their treasure bonds, a playing book popularized by Michael Saylor’s strategy (Mstr) that has become the largest corporate headline in Bitcoin
. Although BTC has been the most wanted asset among these companies, recent newcomers as Development and Sharplink Gaming directed their focus on Sol and Ethere de Solana, respectively.
Vivopower, founded in 2014, aims to be the first company that lies in the stock market with a cryptographic treasury strategy focused on XRP. He also plans to turn his inherited business.
“After reviewing several listed vehicles that seek to adopt a digital assets treasury model, we select Vivopower given their strategic approach to XRP and its goal of contributing to the construction of the XRPL ecosystem,” said Prince Abdulaziz in a statement. “We have been investors in the digital asset sector for a decade and we have been long -term XRP holders.”
Read more: XRP Spot ETF in the United States approaches reality
