BitGo, the leading provider of digital asset infrastructure solutions, and VivoPower International (listed on NASDAQ: VVPR, "VivoPower"), a publicly traded company that recently announced its transition to focus on an XRP treasury strategy and decentralized finance solutions, announced a strategic partnership today. VivoPower, which has successfully raised $121 million, will leverage BitGo as its exclusive over-the-counter (OTC) trading platform for acquiring XRP in a $100 million initial purchase of XRP tokens.
VivoPower will exclusively rely on BitGo for trading its XRP holdings through the 24/7 over-the-counter trading platform and for custodial services provided by BitGo. As a result, VivoPower is expected to benefit from BitGo's liquidity, strong execution capabilities, and secure cold storage infrastructure.
Kevin Chin, CEO and Chairman of VivoPower, said: "VivoPower is committed to delivering value to our shareholders by building a leading digital asset treasury strategy - a mission we plan to accomplish through partnerships with best-in-class digital asset leaders like BitGo. BitGo's proven track record, along with its purpose-built secure infrastructure for custody and institutional trading, makes it the clear choice for executing and safeguarding our treasury allocation."
Mike Belcher, CEO of BitGo, stated: "VivoPower's commitment to digital assets is a testament to the growing institutional momentum around our ecosystem. 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 services."
This partnership underscores BitGo's growing position not only as a trusted custodian but also as a primary trading partner for institutions executing large trades. BitGo's over-the-counter trading platform provides efficient access to deep, global liquidity pools and prudent execution of large-volume trades, all within a secure and compliant environment.
