VivoPower has teamed up with Okay-Climate to develop the world’s first WeatherCoin. This token could be backed by XRP with a purpose to allow a profitable launch.
VivoPower Expands Digital Technique With Okay-Climate Deal
To that impact, VivoPower introduced in a press launch that it’s going to make investments $5 million for a 20% stake in Okay-Climate as its first step towards the Weathercoin launch. In its flip, Okay-Climate would then use the funds to amass VivoPower shares.
That might make it the primary South Korean publicly listed firm to get publicity to each XRP and doubtlessly Ripple Labs. Each events hope to achieve a remaining settlement on or earlier than November 30, 2025.
The deal will see VivoPower, through its VivoPower Federation division, use this partnership to construct a community centered on clear power and tokenized finance. Okay-Climate has about 90% of the climate information market in South Korea. The corporate has a few years of expertise in local weather and air-quality information.
CEO Dong Sik Kim known as the partnership a serious step for blockchain innovation in Asia. He additionally talked about that they plan so as to add Adam Traidman, a former board member of Ripple Labs, to their board.
“We share the identical imaginative and prescient with VivoPower in blockchain tokenization and the enlargement of digital belongings,” Kim stated.
VivoPower’s newest deal comes weeks after the main October replace by which the Nasdaq-listed firm raised $19 million through an fairness providing at $6.05 per share. The corporate revealed that the recent capital would supply it with the means to develop its XRP reserves and supply help to its DAT initiative.
Integration of XRP Expands Throughout Platforms
In September, Flare Community went reside with its XRP-backed stablecoin, which has been broadly adopted. The platform noticed a file of over $120 million in tokens minted inside a interval of two months. FXRP permits holders to lock the Ripple coin and mint equal ERC-20 tokens by means of the FAssets framework.
Including to its adoption, final week, Evernorth Holdings listed on Nasdaq below the ticker XRPN. It lists items and warrants transacting below XRPNU and XRPNW, respectively. A noteworthy truth is that the agency has reportedly accrued greater than $1 billion value of the Ripple coin.
In the meantime, Bitnomial grew to become the primary U.S trade to simply accept stablecoins and XRP as margin collateral. The agency’s new margin system would use RLUSD and create digital help for the Ripple coin.
