Vivopower International (VVPW), the NASDAQ-listed company that transfers to a digitally active Treasury Play has plans to put $ 100 million worth of XRP
Tokens to work.
The company announced on Wednesday that it has worked with LAG-1 Blockchain-Bluse
To implement $ 100 million XRP to generate dividends on its treasury.
The initiative marks the first major use of Flares Fassets system that allows non-smart contract tokens like XRP to interact with decentralized financing (DEFI) protocols, the press release said.
Vivopower plans to generate dividends through Fakel-native protocols such as fire lights and reinvesting income to expand its XRP holdings. The company said it will also adopt the payment company Ripple’s RLUSD STABRECOIN as its cash equivalent reserve.
“It’s no longer enough to just keep the XRP; the duty of our shareholders is to make it productive,” CEO said and executive chairman Kevin Chin in a statement. “The adoption of Ripple’s RLUSD is a cornerstone of this strategy that provides the stability and compliance with this next generation Treasury.”
For Flare, the agreement is a milestone in the institutional validation, pointed out Flare-co-founder Hugo Philion. “Our Fassets system […] is more than just a bridge; It’s a gateway that allows institutions to bring assets like XRP into programmable defi environments to generate yields, all of maintaining their basic security, ”he said.
Vivopower is part of the growing list of public companies,
.
The company’s latest step comes shortly after tapping Bitgo’s trading disk over-the-counter to acquire an initial $ 100 million ditch of the XRP tokens.
Last month, Vivopower said it entered into an agreement on a private share location of $ 121 million, with fundraising led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, President of Eleventh Holding Company, according to a SEC archiving.
