Popular cryptocurrency infrastructure company BitGo will facilitate a $100 million XRP purchase for NASDAQ-listed sustainable energy company VivoPower, according to a Monday press release.
BitGo will act as the company’s over-the-counter (OTC) provider. VivoPower will also rely on BitGo for securing its XRP reserves.
Last week, VivoPower announced that it had secured $121 million to launch an XRP strategic reserve. It also added SBI Ripple Asia CEO Adam Traidman to its board of directors.
BitGo CEO Mike Belshe stated that the deal is the latest sign of “institutional momentum” in the cryptocurrency space. Meanwhile, CEO Kevin Chin has praised BitGo’s “institutional-grade” infrastructure.
As reported by U.Today, Belshe previously stated that he wanted Ripple to win against the SEC since it would result in positive regulatory developments for the cryptocurrency ecosystem.