US-listed VivoPower partners with South Korean firm Lean Ventures to acquire Ripple equity.

According to Odaily Planet Daily, Nasdaq-listed VivoPower (VVPR), through its digital asset division Vivo Federation, has partnered with South Korean asset management firm Lean Ventures to raise $300 million to acquire a stake in Ripple Labs, serving South Korean institutional and qualified retail investors.

Based on the current XRP price, this investment will indirectly provide exposure to approximately 450 million XRP tokens, worth about $900 million. VivoPower has received approval from Ripple to purchase its initial preferred shares and is in talks with existing institutional holders for additional acquisitions. (CoinDesk)