VivoPower’s Tembo to Accept Bitcoin ($BTC), Ripple ($XRP), and Dogecoin ($DOGE) for payments from customers and partners
Rhea-AI Summary
VivoPower International (Nasdaq: VVPR) announced that its subsidiary, Tembo e-LV, will begin accepting Bitcoin (BTC), Ripple (XRP), and Dogecoin (DOGE) as payment methods for deposits and orders. Operating across Asia, the Middle East, Africa, Oceania, Europe, and North America, Tembo aims to provide customers and partners with enhanced payment flexibility while potentially improving its working capital cycle through instantaneous settlements.
The company plans to incorporate these digital assets into its corporate treasury management strategy, with the possibility of holding reserves in these cryptocurrencies subject to market assessments and risk management considerations. VivoPower has implemented a secure payment architecture to ensure compliant digital currency transactions.
Positive
- Potential improvement in working capital cycle through instant cryptocurrency settlements
- Expanded payment options for international customers and partners
- Strategic diversification of corporate treasury through cryptocurrency holdings
Negative
- Exposure to cryptocurrency market volatility risks
- Potential regulatory compliance challenges across multiple jurisdictions
News Market Reaction 1 Alert
On the day this news was published, VVPR gained 2.83%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Tembo operates across international markets, including Asia, the Middle East, Africa, Oceania, Europe and North America
Increasing adoption of digital assets and currencies across these markets enables Tembo to provide these payment options, with potential benefits to its working capital cycle
LONDON, Jan. 31, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that its subsidiary, Tembo e-LV will commence accepting payments for deposits and orders in Bitcoin (BTC), Ripple (XRP), and Dogecoin (DOGE).
The primary rationale is to provide customers and partners with added flexibility as to how to pay Tembo for goods and services provided. With instantaneous settlement, it has the potential to shorten the working capital cycle for the Company.
VivoPower will incorporate these selected digital assets into its corporate treasury management strategy. The Company’s treasury may elect hold a portion of its reserves in Bitcoin, XRP, and/or Dogecoin, subject to ongoing market assessments and risk management considerations.
VivoPower remains committed to ensuring secure and compliant digital currency transactions and has established a payment architecture that enables this.
About VivoPower
Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
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 characterisations 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.
Contact
Shareholder Enquiries
shareholders@vivopower.com
FAQ
Which cryptocurrencies will VivoPower (VVPR) accept for payments?
How will cryptocurrency payments benefit VivoPower's (VVPR) working capital?
Will VivoPower (VVPR) hold cryptocurrency reserves?
In which regions will VivoPower (VVPR) accept cryptocurrency payments?
