BitGo will facilitate the $100 million XRP purchase by publicly traded company VivoPower International PLC, the companies have announced.
VivoPower will leverage BitGo’s digital assets infrastructure to acquire XRP (XRP) as the company looks to execute the purchase of an initial $100 million worth of the Ripple cryptocurrency. The two firms shared the development in an announcement on June 2, 2025.
Specifically, BitGo has entered a strategic partnership with VivoPower, with this allowing the Nasdaq-listed firm to buy and trade XRP via BitGo’s over-the-counter trading desk. VivoPower will also tap into BitGo’s custody custody solution to hold its XRP.
The partnership with BitGo comes just days after VivoPower announced its raising $121 million to buy XRP as part of its digital asset treasury strategy.
“VivoPower is committed to driving value for our shareholders by building out a leading digital asset treasury strategy,” said Kevin Chin, executive chairman and chief executive officer of VivoPower. “[It’s] a mission we plan to accomplish through partnerships with best-in-class digital asset leaders like BitGo,” Chin added.
Mike Belshe, CEO of BitGo, echoed the sentiment.
According to Belshe, the collaboration signals “VivoPower’s commitment to digital assets,” aligning with the current trend of increased institutional adoption of crypto.
The partnership is BitGo’s latest within the sector, as institutions increasingly look to its custody and trading solution as they make forays into the digital asset space. Institutions leverage BitGo’s OTC desk for deep liquidity and high-volume trades, as well as staking and financing.
Founded in 2013, BitGo’s traction includes partnerships with crypto industry’s leading platforms, exchanges, and brands. It also serves retail investors.
The crypto custody firm announced its global OTC crypto trading desk in February, with key features including spot and derivatives trading.
A partnership with Copper also revealed the unveiling of a trading solution with off-exchange settlement on Deribit. Meanwhile, a recent regulatory nod from Germany’s BaFin allowed BitGo to expand its services in Europe.
BitGo is also eyeing public listing.
