Electric Car Company Chooses RLUSD for Bold XRP Payments

Innovations in the financial and automotive sectors are increasingly converging, as evidenced by VivoPower International’s electric vehicle division, Tembo, which has announced plans to integrate Ripple USD (RLUSD) as a preferred payment method. This strategic move promises not only to streamline payment processes but also to enhance operational efficiency across international borders, as indicated in a recent official statement.

Utilizing this stablecoin option will enable faster transactions while significantly reducing the hefty fees typically associated with traditional banking wires.

Electric Car Company Chooses Rlusd For Bold Xrp Payments

Tembo Embraces RLUSD for Enhanced Global Transactions

Tembo is committed to serving various sectors, including mining, agriculture, military, and humanitarian initiatives. Many of their clients operate in regions where conventional bank transfers can be both slow and expensive.

With RLUSD, transactions can occur almost instantaneously across different countries, which is a key advantage that VivoPower cited for adopting this digital currency.

Innovative Vehicles and Support Services

Tembo constructs a range of electric utility vehicles that are optimal for both urban environments and rugged terrains. These vehicles are built to fulfill demanding roles where dependability outweighs aesthetics.

In addition to the vehicles, a suite of essential services such as charging solutions, financing options, battery swapping, and microgrid assistance is also available. Now, customers can transact for these services using RLUSD, simplifying the purchasing process for both regional dealers and global investors.

Ripple’s Growing Partnerships and Market Trends

Market analyses indicate that RLUSD’s market capitalization has surged significantly this year, rising nearly tenfold since January. Ripple is actively working to expand the reach of RLUSD through collaborations with companies like Chipper Cash, Yellow Card, and VARL. Recently, RLUSD was also integrated into Aave’s Horizon RWA market.

Such partnerships are being closely monitored by enterprises focusing on cross-border transactions, with increasing adoption noted in Africa, parts of Southeast Asia, and the Middle East.

VivoPower’s Strategic Move Towards XRP

VivoPower has expressed that their approach goes beyond merely incorporating a new payment option. They are positioning themselves as a company with a keen focus on digital assets tied to XRP.

They are building a portfolio that includes holdings in XRP and equity in Ripple Labs, part of which is aimed at treasury optimization.

Additionally, parts of these holdings are anticipated to facilitate decentralized finance applications and real-world blockchain implementations relevant to Tembo’s offerings.

Impacts on Liquidity, Treasury, and Local Economies

Industry analysts have highlighted the potential for RLUSD to play a significant role in strategic liquidity planning and corporate treasury functions because of its affiliations with institutional entities like Doppler Finance.

If this development materializes, the stablecoin could serve as a bridge linking fiat currency systems to decentralized finance solutions, especially in regions where traditional banking services are minimal.

Vendors and collaborators in areas serviced by Tembo are likely to experience quicker transactions and reduced conversion expenses.

Image credits: Westend61/Getty Images, chart from TradingView

Emily Walker
Crypto News Editor

Emily brings structure, clarity, and journalistic integrity to Bitrabo’s daily news coverage. With years of experience in tech journalism, she ensures that every headline, update, and developing story is accurate and impactful. From breaking regulatory news to market movements, Emily’s editorial oversight keeps Bitrabo’s news content timely, trusted, and engaging.