Nasdaq-listed VivoPower is deepening its XRP-linked strategy through a joint venture designed to acquire significant equity stakes in Ripple Labs. The company said its digital asset arm, Vivo Federation, has been engaged by South Korea-based asset manager Lean Ventures to source an initial $300 million in Ripple Labs shares. Based on current XRP prices, VivoPower estimates the exposure represents roughly 450 million XRP tokens, valued at close to $900 million.
The structure provides indirect exposure to XRP without purchasing the token directly. Lean Ventures plans to establish a dedicated investment vehicle that will hold Ripple Labs equity sourced by Vivo Federation, targeting institutional and qualified retail investors in South Korea. The country is one of XRP’s most active markets, with deep retail participation and a growing base of regulated digital asset investment products. VivoPower said it has received approval from Ripple to acquire an initial tranche of preferred shares and is negotiating additional purchases from existing institutional holders.
Institutional Structure and Economics
VivoPower emphasized that it will not deploy its own balance sheet capital for the initiative. Instead, the firm expects to generate revenue through management fees and performance-based carry, targeting approximately $75 million in net economic returns over three years if the $300 million mandate is fully executed. The structure reflects a broader trend among publicly listed firms seeking fee-based exposure to digital asset growth rather than direct price risk.
Neither VivoPower nor Ripple disclosed transaction-level details, citing regulatory and legal constraints around market-sensitive information. Ripple declined to comment on the arrangement. The absence of direct token purchases may also appeal to institutions navigating custody, accounting, and regulatory considerations tied to holding cryptocurrencies outright.
XRP-Centric Strategy in a Competitive Market
The joint venture builds on VivoPower’s recent pivot toward an XRP-focused treasury and investment strategy. Earlier this year, the company raised $121 million in a private placement led by Saudi investor Abdulaziz bin Turki Abdulaziz Al Saud, positioning itself as one of the first public companies to center its digital asset exposure on XRP rather than bitcoin or ether. VivoPower has since allocated capital to yield-generating XRP strategies, including a $100 million deployment through Flare’s FAssets system, and adopted Ripple’s RLUSD stablecoin for treasury operations.
The move comes amid intensifying competition among digital asset firms to attract institutional capital as regulatory clarity improves across major markets. By targeting South Korea and structuring exposure through equity rather than tokens, VivoPower is seeking to differentiate its approach while aligning with institutional risk frameworks and regional demand dynamics.