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LONDON - Crypto.com will provide custodial services for VivoPower International PLC’s (NASDAQ:VVPR) digital asset treasury holdings and digital asset mining operations, the companies announced Tuesday. The announcement comes as VivoPower shows remarkable market momentum, with InvestingPro data revealing a 567% surge in share price over the past six months, despite maintaining a weak overall financial health score.
Under the partnership, VivoPower shares will be available for trading through Crypto.com’s broker-dealer platform, giving Crypto.com’s reported 150 million users access to VVPR stock. The company, currently valued at approximately $60 million, maintains impressive gross profit margins of nearly 75%, though InvestingPro analysis indicates challenges with cash burn and debt management.
VivoPower, a B Corporation listed on Nasdaq since 2016, is transitioning into what it describes as an "XRP-focused digital asset enterprise." The company’s strategy involves acquiring and holding XRP digital assets as part of its treasury operations.
"We are very pleased to have signed this partnership with Crypto.com to facilitate a listing for VivoPower on Crypto.com’s Stock platform, providing exposure to Crypto.com’s 150 million crypto native user base," said Kevin Chin, Executive Chairman of VivoPower, in the press release.
Eric Anziani, President and Chief Operating Officer of Crypto.com, stated that the company was "purpose-built for today and tomorrow’s market" and looks forward to supporting VivoPower’s digital asset treasury strategy.
The partnership will utilize Crypto.com Custody, the company’s institutional-grade custody offering that provides services to eligible institutions and high-net-worth clients.
VivoPower, which operates globally across the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia, maintains two business units: Tembo, which focuses on electric solutions for fleet applications, and Caret Digital, which concentrates on renewable power applications including digital asset mining.
According to the announcement, VivoPower shareholders will also gain access to "superior liquidity for XRP and other digital assets," as well as upcoming XRP restaking via Flare, which VivoPower has previously partnered with. For investors seeking deeper insights into VivoPower’s financial health and growth potential, InvestingPro offers 15+ additional exclusive tips and comprehensive financial metrics to inform investment decisions.
In other recent news, VivoPower International PLC has announced plans to acquire up to $100 million of privately held Ripple Labs shares. This move is part of VivoPower’s XRP-focused digital asset treasury strategy, following a two-month due diligence period. The acquisition agreements with current Ripple shareholders are subject to final approval from Ripple’s executive management. VivoPower will also continue to directly acquire and hold XRP tokens in conjunction with these share purchases. Additionally, the Nasdaq Options Market will begin listing standardized options for VivoPower, with transactions cleared through the Options Clearing Corporation. In another development, VivoPower reduced its liabilities by $7.5 million through issuing shares to lenders and suppliers. This debt reduction strategy involved negotiating with selected lenders and suppliers to exchange outstanding debts for ordinary shares. Company directors have also opted to receive shares instead of certain fees, with exceptions for tax liabilities.
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