VivoPower Taps BitGo for $100M XRP Purchase Amid Growing Institutional Demand

BitGo, a leading cryptocurrency infrastructure firm, will handle a $100 million XRP acquisition for Nasdaq-listed sustainable energy company VivoPower, according to a press release issued Monday. BitGo will serve as VivoPower’s over-the-counter (OTC) provider and also secure its XRP holdings using its institutional-grade custody solutions.

This strategic move follows VivoPower’s recent announcement of securing $121 million to establish an XRP reserve. As part of its broader crypto strategy, the company appointed Adam Traidman, CEO of SBI Ripple Asia, to its board, signaling a deeper alignment with XRP's enterprise ecosystem.

BitGo CEO Mike Belshe described the deal as a strong indicator of growing institutional momentum in the digital asset market. VivoPower CEO Kevin Chin echoed this sentiment, highlighting BitGo’s infrastructure as a key enabler for secure, compliant crypto integration.

This development reflects a broader trend in corporate crypto adoption, particularly in altcoins. XRP, traditionally overshadowed by Bitcoin and Ethereum, is now gaining ground in the corporate treasury space thanks to rising institutional acceptance. The introduction of regulated XRP futures and multiple U.S. spot ETF proposals has boosted its legitimacy among enterprises.

Separately, China-based AI mobility company Webus International is reportedly exploring a $300 million XRP reserve, adding further credibility to XRP’s emerging role in corporate finance.

While BitGo CEO Belshe has expressed support for Ripple in its legal battle with the U.S. Securities and Exchange Commission (SEC), he emphasized that his stance is driven by the potential regulatory clarity a Ripple win would bring to the industry rather than personal bias toward the token.

As XRP evolves into a more mainstream treasury asset, this surge in corporate interest may signal a new chapter for the altcoin in institutional portfolios.