Unlocking the Power of Crypto: BitGo Facilitates $100M XRP Acquisition

BitGo to Facilitate $100M XRP Purchase for VivoPower

Cryptocurrency infrastructure leader BitGo has been selected to manage a $100 million XRP acquisition for NASDAQ-listed sustainable energy firm VivoPower, according to an official announcement.

Strategic Partnership Details

BitGo will act as VivoPower's over-the-counter (OTC) provider, securing the company's XRP reserves. This partnership follows VivoPower's recent disclosure of securing $121 million to establish an XRP strategic reserve and the appointment of SBI Ripple Asia CEO Adam Traidman to its board.

Leadership Perspectives

BitGo CEO Mike Belshe described the deal as evidence of growing "institutional momentum" in cryptocurrency adoption. VivoPower CEO Kevin Chin commended BitGo's institutional-grade infrastructure as ideal for their needs.

Notably, Belshe has previously voiced support for Ripple in its ongoing SEC case, anticipating positive regulatory outcomes for the broader crypto ecosystem.

Key Takeaways

• BitGo selected to manage $100M XRP purchase for VivoPower
• Company to serve as OTC provider for XRP reserves
• VivoPower secured $121M for XRP reserve, added SBI Ripple Asia CEO to board
• Deal reflects growing institutional crypto adoption
• BitGo's infrastructure praised as institutional-grade solution