Quick overview

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VivoPower International announced that its electric vehicle subsidiary, Tembo e-LV, will begin accepting payments from clients and partners using Ripple’s RLUSD stablecoin.

RLUSD is a dollar-pegged stablecoin backed by short-term Treasuries, USD deposits, and other cash equivalents. This year, the token’s market capitalization has increased more than tenfold.

Tembo aims to address the limitations of traditional banking infrastructure for international payments, specifically targeting markets in Southeast Asia, Africa, and the Middle East. By integrating RLUSD, Tembo offers a faster and more cost-effective alternative to standard wire transfers. This initiative aligns with VivoPower’s ongoing transition into a digital asset company that focuses on XRP.

Additionally, through Tembo and its electric utility vehicle division,  with Caret Digital, which develops renewable energy solutions, VivoPower (traded on Nasdaq as VVPR) operates globally. The integration of RLUSD is expected to reduce transaction friction and banking fees while enhancing VivoPower’s enterprise-grade crypto capabilities. It may also create new opportunities for treasury management in decentralized finance.