Nasdaq-listed VivoPower shares surged 32.12% to $5.10 after announcing a plan to buy $100 million of Ripple Labs shares. The company will acquire Ripple shares directly from existing shareholders to optimize yield and minimize cost. VivoPower is the first US firm to offer exposure to both Ripple equity and XRP tokens.

VivoPower partners with BitGo and Nasdaq Private Market for Ripple share custody. Ripple has burned around 14 million XRP tokens to date and holds 41 billion. VivoPower’s strategy aims to lower the average acquisition cost per XRP to $0.47. Every $10 million in Ripple shares could add $5.15 per share in value for shareholders.

BDACS launches regulated institutional XRP custody services in South Korea, leveraging Ripple Custody. Ripple Labs previously partnered with BDACS to offer institutional custody for XRP and RLUSD stablecoin. This move aims to provide secure storage and management capabilities for institutions holding XRP.

Read more at Cointelegraph: VivoPower Shares Jump 32% on $100M Ripple Equity Buy to Boost XRP Strategy