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VivoPower’s Caret Digital to Swap Mined Crypto for XRP at Deep Discount

VivoPower’s Caret Digital to Swap Mined Crypto for XRP at Deep Discount

VivoPower’s Caret Digital mining unit will extend operations, converting mined tokens into XRP at a 65% discount, reinforcing its XRP-centric treasury strategy and expanding involvement in the Ripple ecosystem.

XRP
FLR

Fact Check
Multiple sources, including a primary source press release from VivoPower's own website, directly confirm the statement. The evidence explicitly states that VivoPower's subsidiary, Caret Digital, will exchange mined tokens for XRP, allowing the company to procure XRP at an effective discount of up to 65%.
    Reference: 1
Summary

VivoPower International has revealed that its mining subsidiary, Caret Digital, will enhance its operations and convert mined tokens into XRP at an effective 65% discount. This approach will include token conversions and the acquisition of Ripple equity to minimize costs and increase exposure to the XRP ecosystem. The initiative is part of VivoPower's broader XRP treasury strategy, which is supported by private funding, OTC trading with BitGo, collaborations with Flare Network for yield farming, and a significant investment in Ripple Labs shares.

Terms & Concepts
  • XRP Treasury Strategy: A corporate investment approach focusing on accumulating and managing XRP holdings for value preservation and potential financial advantages.
  • OTC Trading: Over-the-counter crypto trading allows large transactions directly between parties without using a public exchange.
  • Yield Farming: A DeFi practice where users lend or stake assets in liquidity pools to earn rewards, often in cryptocurrency.