VivoPower has teamed up with K-Weather to develop the world’s first WeatherCoin. This token would be backed by XRP in order to enable a successful launch.
VivoPower Expands Digital Strategy With K-Weather Deal
To that effect, VivoPower announced in a press release that it will invest $5 million for a 20% stake in K-Weather as its first step toward the Weathercoin launch. In its turn, K-Weather would then use the funds to acquire VivoPower shares.
That would make it the first South Korean publicly listed company to get exposure to both XRP and potentially Ripple Labs. Both parties hope to reach a final agreement on or before November 30, 2025.
The deal will see VivoPower, via its VivoPower Federation division, use this partnership to build a network focused on clean energy and tokenized finance. K-Weather has about 90% of the weather data market in South Korea. The company has many years of experience in climate and air-quality data.
CEO Dong Sik Kim called the partnership a major step for blockchain innovation in Asia. He also mentioned that they plan to add Adam Traidman, a former board member of Ripple Labs, to their board.
VivoPower’s latest deal comes weeks after the major October update in which the Nasdaq-listed company raised $19 million via an equity offering at $6.05 per share. The company revealed that the fresh capital would provide it with the means to expand its XRP reserves and provide support to its DAT initiative.
Integration of XRP Expands Across Platforms
In September, Flare Network went live with its XRP-backed stablecoin, which has been widely adopted. The platform saw a record of over $120 million in tokens minted within a period of two months. FXRP allows holders to lock the Ripple coin and mint equivalent ERC-20 tokens through the FAssets framework.
Adding to its adoption, last week, Evernorth Holdings listed on Nasdaq under the ticker XRPN. It lists units and warrants transacting under XRPNU and XRPNW, respectively. A noteworthy fact is that the firm has reportedly accrued more than $1 billion worth of the Ripple coin.
Meanwhile, Bitnomial became the first U.S exchange to accept stablecoins and XRP as margin collateral. The firm’s new margin system would use RLUSD and create digital support for the Ripple coin.
Source: https://coingape.com/xrp-chosen-to-back-first-weathercoin-launch-amid-vivopower-and-k-weather-partnership/
