TLDR
- Prince Abdulaziz invests $121 million in VivoPower International.
- VivoPower implements XRP-focused digital asset treasury strategy.
- No official confirmation of XRP property purchases exists.
Reports have circulated recently about Saudi Arabia allowing U.S. citizens to purchase properties using XRP (Ripple). However, there is currently no verifiable evidence or confirmation from official sources such as Saudi government portals or Ripple executives for such an announcement.
Despite the lack of official confirmation, activity around a significant investment involving Saudi royalty and U.S.-listed companies has fed market speculation. These developments focus on XRP’s new digital asset strategies rather than real estate purchases.
Major Investment Led by Saudi Prince
Prince Abdulaziz bin Turki Abdulaziz Al Saud is spearheading a $121 million investment into VivoPower International PLC, a NASDAQ-listed company. This move is part of a newly adopted XRP-focused digital asset treasury strategy.
VivoPower International PLC has become the first public company to implement an XRP-centric digital asset treasury and decentralized finance (DeFi) strategy. The strategic goal is to build out the XRPL ecosystem, according to a statement by Prince Abdulaziz.
Adam Traidman, formerly on Ripple’s board, has joined VivoPower as Chairman of the Board of Advisors. He will oversee this strategic shift along with VivoPower Chairman Kevin Chin, who is identified as an early digital asset adopter.
In his statement, Prince Abdulaziz emphasized the long-term relationship they have with XRP and their investment in the digital asset sector over the past ten years.
Funding Allocation and Market Impact
The $121 million investment includes the allocation of 20 million ordinary shares at $6.05 each. This project is led by the Prince, with additional funding from notable investors in the digital asset industry.
According to the project details, the funds will be allocated towards XRP accumulation, XRPL DeFi ecosystem investments, debt reduction, and working capital for the company. While XRP is named as a primary asset, no mention has been made of Ethereum, Bitcoin, or other altcoins concerning this strategy.
Speculative Claims Unverified
Rumors suggesting Saudi Arabia’s involvement in a substantial XRP investment, specifically regarding U.S. citizens buying properties with XRP, remain unsubstantiated. No confirmed statements from official Saudi bodies or Ripple executive members validate this claim.
Furthermore, there have been no official announcements from the Saudi government or U.S. regulatory bodies such as the SEC or CFTC supporting this scenario. The news is currently fueled by secondary speculations, mainly on Twitter and Telegram.
Comparisons with Regional Initiatives
Compared to Saudi Arabia’s speculative context, Dubai has recently launched a government-backed tokenization platform for real estate using the XRP Ledger. The initiative involves tokenizing up to $16 billion in property by 2033 but is exclusive to local currency transactions and UAE ID holders, not applicable to XRP or foreign buyers at present.
No changes in on-chain data, like total value locked or liquidity shifts, have been reported in relation to this event, as disclosed in official press releases or by government agencies.
| Disclaimer: The content on defiliban.com is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
