The post 3 Major Companies Eye XRP for Strategic Reserves: Will This Boost Its Price? appeared first on Coinpedia Fintech News
In the race to build a strong crypto reserve, Ripple’s XRP is making big progress and gaining more attention than ever. Recently, three major companies—Wellgistics Health, VivoPower International, and Webus International, announced plans to use XRP as a treasury reserve asset for their businesses.
Let’s see how this could impact XRP’s future.
Wellgistics Health Puts $50 Million Into XRP
Wellgistics Health, a pharmaceutical company that distributes medicines in the US, shared exciting news. They have a $50 million credit line to help them start using XRP for real-time payments.
This means they want to move away from old, slow payment systems and use Ripple’s blockchain to make faster and more secure payments. It could be a smart move that helps them stay ahead of the competition.
VivoPower Plans Big XRP Purchases
VivoPower International PLC has also shown its keen interest in creating an XRP-based digital asset treasury. They recently raised $121 million with help from Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
Out of that money, $100 million will be used to buy XRP tokens.
VivoPower wants to be one of the first companies in the world to focus on using XRP in its business. They are working with BitGo to make sure they buy and hold XRP safely.
Webus International Plans a $300 Million XRP Reserve
Webus International, a China-based travel and hospitality giant, the company has shared plans to raise $300 million. This money will create a strategic XRP reserve, according to documents filed with the US SEC.
Webus wants to tap into Ripple’s powerful blockchain network to simplify cross-border transactions. The idea is simple, faster payments and better transparency for their global bookings.
How This Could Impact XRP
Meanwhile, some experts believe that these big plans could help XRP become even more important. Right now, XRP’s price is trading around $2.18, almost 33% down from its all-time high of $3.38.
Another interesting thing is that the big institutions are holding XRP shows there is real demand and trust in it. This could make it easier for regulators to approve an XRP ETF in the future.
