US-listed VivoPower plans to acquire a stake in Ripple Labs for $300 million.

Nasdaq-listed VivoPower (ticker symbol: VVPR) is expanding its Ripple-related strategy through a new joint venture aimed at acquiring hundreds of millions of dollars worth of Ripple Labs shares, giving investors indirect access to nearly $1 billion worth of underlying XRP assets. In a statement released Tuesday, the company said its digital asset division, Vivo Federation, has been commissioned by South Korean asset management firm Lean Ventures to initially acquire $300 million worth of Ripple Labs equity.