BitGo Enters Strategic Partnership with VivoPower to Facilitate its Initial US$100 Million XRP Acquisition for Treasury Strategy
- Successfully raised US$121 million for XRP treasury strategy implementation
- Partnership with BitGo provides access to institutional-grade trading and custody infrastructure
- Secured exclusive access to BitGo's 24/7/365 OTC trading desk for efficient large block trades
- Strategic transition to XRP-focused treasury and DeFi solutions company indicates clear business direction
- Significant concentration risk with US$100 million allocation to single cryptocurrency (XRP)
- Heavy dependence on single provider (BitGo) for both trading and custody services
- Potential regulatory risks associated with cryptocurrency treasury strategy
Insights
VivoPower allocates $100M to XRP in strategic pivot, partnering with BitGo for trading and custody infrastructure.
This partnership between BitGo and VivoPower represents a significant strategic repositioning for VivoPower, which has explicitly transitioned to become "an XRP focused treasury and decentralized finance solutions company." The scale of this commitment is substantial - having raised
The selection of BitGo as both trading and custody partner provides VivoPower with important infrastructure advantages. BitGo's institutional-grade custody solutions offer cold storage security that's critical when managing digital assets at this scale. Their OTC desk provides access to liquidity pools necessary for acquiring such large positions without excessive slippage or market disruption.
What makes this treasury strategy particularly notable is the concentration in a single digital asset (XRP) rather than a diversified approach. This creates a direct correlation between VivoPower's treasury value and XRP performance. The company's transformation effectively positions VivoPower shares as a vehicle with significant exposure to XRP price movements.
The filing of a registration statement with the SEC indicates VivoPower is raising additional capital through a public offering, potentially to further support this new strategic direction. For existing shareholders, this represents a fundamental transformation of the company's risk profile and business model, with their investment now significantly tied to developments in the XRP ecosystem.
VivoPower to leverage BitGo’s best-in-class OTC trading desk and custody platform to build digital asset treasury strategy
NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- BitGo, the leading infrastructure provider of digital asset solutions, and VivoPower International PLC (Nasdaq: VVPR, “VivoPower”), a publicly traded company that recently announced transition to an XRP focused treasury and decentralized finance solutions company, today announced a strategic partnership. VivoPower, having successfully raised US
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. As a result, VivoPower is expected to benefit from BitGo’s liquidity, robust execution capabilities, and secure cold storage infrastructure.
Kevin Chin, Executive Chairman and CEO of VivoPower, said: “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. BitGo’s track record, combined with its institutional-grade, secure-by-design custodial and trading infrastructure, makes them the clear choice to execute and safeguard our treasury allocation.”
Mike Belshe, CEO of BitGo, said: “VivoPower’s commitment to digital assets is a testament to the institutional momentum building 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.”
The partnership underscores BitGo’s growing position not only as a trusted custodian, but also as a premier trading partner for institutions executing large block trades. BitGo’s OTC desk enables efficient access to deep, global liquidity pools and discreet execution of high-volume trades, all within a secure and compliant environment.
VivoPower has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (the “SEC”) for a public offering of its ordinary shares. Before you invest in the public offering, you should read the prospectus in that registration statement and other documents VivoPower has filed with the SEC for more complete information about the issuer and the public offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, VivoPower or Chardan, the placement agent for the public offering, will arrange to send you the prospectus if you request it by emailing shareholders@vivopower.com or prospectus@chardan.com.
About BitGo
BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry’s top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.
About VivoPower
VivoPower International PLC (NASDAQ: VVPR) is undergoing a strategic transformation into the world’s first XRP-focused digital asset enterprise. The Company’s new direction centers on the acquisition, management, and long-term holding of XRP digital assets as part of a diversified digital treasury strategy. Through this shift, VivoPower aims to contribute to the growth and utility of the XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications.
Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower operates with a global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia. An award-winning global sustainable energy solutions B Corporation, VivoPower has two business units, Tembo and Caret Digital. Tembo is focused on electric solutions for off-road and on-road customized and ruggedized fleet applications as well as ancillary financing, charging, battery and microgrids solutions. Caret Digital is a power-to-x business focused on the highest and best use cases for renewable power, including digital asset mining.
Forward-Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.
Media Contact
press@bitgo.com
VivoPower International PLC
media@vivopower.com
FAQ
What is the size of VivoPower's planned XRP acquisition through BitGo?
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What services will BitGo provide to VivoPower in their partnership?
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