XRP-focused VivoPower now accepts Ripple USD for vehicle payments
Key Takeaways
- VivoPower subsidiary Tembo will accept RLUSD stablecoin payments for electric vehicle purchases.
- Integrating RLUSD enables faster, lower-cost international transactions compared to traditional wire transfers.
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VivoPower International PLC announced today that its electric vehicle subsidiary, Tembo e-LV, will begin accepting Ripple’s RLUSD stablecoin payments from customers and partners.
RLUSD is a dollar-pegged stablecoin developed by Ripple Labs and backed by USD deposits, short-term Treasuries, and other cash equivalents. The token’s market capitalization has surged more than 10 times this year.
Serving markets in Southeast Asia, Africa, and the Middle East, Tembo is targeting the limitations of traditional banking infrastructure for global payments. RLUSD integration provides a faster, cheaper alternative to wire transfers.
The initiative supports VivoPower’s ongoing pivot toward becoming an XRP-focused digital asset enterprise. The Nasdaq-listed company (VVPR) operates globally through Tembo, its electric utility vehicle division, and Caret Digital, which develops renewable power solutions.
“With RLUSD, it is possible for international wire transfers to be effectuated almost instantaneously and at a fraction of the cost of conventional wire transfers,” VivoPower stated in its announcement.
RLUSD integration is projected to reduce transaction friction and banking fees while enhancing VivoPower’s enterprise-grade crypto capabilities. It could also open new avenues for treasury management in decentralized finance.
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