- Tembo e-LV, VivoPower’s EV unit, now accepts Ripple’s RLUSD stablecoin for payments across Asia, Africa, and the Middle East.
- RLUSD adoption addresses the high costs and delays of traditional international transfers in developing markets.
- VivoPower continues its pivot toward becoming the first XRP-focused digital asset enterprise.
VivoPower announced that its arm that deals in electric vehicles, Tembo e-LV, will be getting payments in the enterprise-level stablecoin of Ripple, referred to as RLUSD.
Tembo operates in Southeast Asia, Africa, and the Middle East, while conventional wire transfers are typically slow and pricey in this region. The incorporation of RLUSD will enable the company to streamline settlements and save on payments in foreign markets.
The stablecoin is pegged 1:1 with the U.S. dollar and is entirely collateralized with cash reserves, short-term treasuries, and equivalents. Its architecture complies with institutional requirements of transparency and compliance, providing stability for businesses.
The stablecoin is minted both on the XRP Ledger and Ethereum, which provide near-instant, low-settlement-cost settlements. Since the beginning of 2025, the market cap of RLUSD has expanded ten times, reflecting its growing use in enterprise ecosystems globally.
Strategic Value for VivoPower
For Tembo and its parent, RLUSD offers various benefits. Faster payment velocity is essential for operations that extend across multiple continents. Lower fees benefit the company’s partners in growing markets in which cross-border payment fees continue to be an obstacle.
Embracing RLUSD is also consistent with VivoPower’s broader expansion into business models powered by blockchain.
The company also outlined its plans to purchase $100 million worth of XRP into the treasury. It is also positioning itself as the first XRP-focused digital assets company, with plans of holding XRP and Ripple equity as part of diversified treasury plans.
According to board chair Adam Traidman, who was formerly with SBI Ripple Asia, the move is aimed at expanding the company’s presence in the growing ecosystem of Ripple.
Ripple and BNY Custody Partnership
Ripple, the creator of RLUSD, collaborated with The Bank of New York Mellon Corporation (BNY) so that they could offer custody of RLUSD reserves. The move solidifies the credibility of the stablecoin, with rigorous asset segregation, third-party audits, and redemption rights. The association shows how players from the traditional finance sector are further entering digital assets.
Ripple’s senior vice president of stablecoins, Jack McDonald, noted that RLUSD fills the void in enterprise-class stablecoins. Emily Portney, Global Head of Asset Servicing at BNY, specified that the custody services of RLUSD align with their policy of facilitating large-scale, secure digital assets adoption.
Also Read: XRPL Gets Major Upgrade: Ripple’s 8-Transaction Batch Feature Clears Testing
