Vivopower Taps Bitgo for Bold XRP Treasury
Bitgo and Vivopower International PLC (Nasdaq: VVPR) announced on June 2 a strategic partnership that will support Vivopower’s $100 million XRP acquisition as part of its shift to becoming “an XRP-focused treasury and decentralized finance solutions company.” The collaboration designates Bitgo as Vivopower’s exclusive partner for trading and custody services, utilizing Bitgo’s over-the-counter desk and secure asset storage systems. This move marks a significant step in Vivopower’s digital transformation, backed by a recent $121 million capital raise. Vivopower is an international battery technology, electric vehicle services company.
The companies detailed:
Vivopower will exclusively leverage Bitgo for both the trading of its XRP holdings through Bitgo’s 24/7/365 OTC trading desk and holding of its assets through Bitgo’s best-in-class custody platform.
Vivopower has positioned this initiative at the core of its evolving business model, with Executive Chairman and CEO Kevin Chin emphasizing its strategic value: “Vivopower is committed to driving value for our shareholders by building out a leading digital asset treasury strategy—a mission we plan to accomplish through partnerships with best-in-class digital asset leaders like Bitgo.” Chin highlighted the importance of working with a partner offering institutional-grade infrastructure that aligns with the company’s long-term objectives.
Bitgo CEO Mike Belshe acknowledged the increasing institutional momentum in the digital asset market, stating: “Vivopower’s commitment to digital assets is a testament to the institutional momentum building around our ecosystem.” He noted:
We are proud to provide the comprehensive platform that companies like Vivopower need to enter the digital asset space with confidence—from seamless execution to industry-leading custody.
According to Vivopower, the company “aims to contribute to the growth and utility of the XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications.” While concerns persist around crypto volatility and regulation, supporters argue that institutional initiatives like Vivopower’s reinforce the maturing role of blockchain in global finance. Advocates also point to the efficiency and transparency benefits that decentralized technologies can offer over traditional systems.
