Tembo, the electric vehicle arm of VivoPower International, is making waves by accepting Ripple USD (RLUSD) for payments. This move could seriously change how they handle international business.
Faster, Cheaper Payments
Tembo’s customers are often in developing countries where traditional bank transfers are slow and expensive. RLUSD offers near-instant cross-border payments at a fraction of the cost, making it a much more attractive option.
More Than Just Vehicles
Tembo doesn’t just sell electric vehicles; they also offer charging solutions, financing options, battery swaps, and even microgrids. All these services can now be paid for using RLUSD, simplifying things for both local dealers and international customers. Their vehicles are built for reliability, focusing on function over flashy looks, perfect for tough jobs in various industries like mining, agriculture, military, construction, and humanitarian work.
RLUSD’s Growing Popularity and VivoPower’s XRP Strategy
RLUSD’s value has skyrocketed since January, growing tenfold! Ripple is aggressively expanding RLUSD’s reach through partnerships with companies like Chipper Cash, Yellow Card, and VARL, and has even integrated it into Aave’s Horizon RWA market. This growing adoption, particularly in Africa, Southeast Asia, and the Middle East, is attracting attention from businesses involved in international trade.
VivoPower isn’t just using RLUSD for payments; they’re building a whole XRP-focused strategy. They’re investing in XRP and Ripple Labs stock, using some for treasury management and some to support decentralized finance (DeFi) projects and real-world blockchain applications related to Tembo’s operations.
Beyond Payments: Treasury Management and Liquidity
Partnerships with firms like Doppler Finance suggest RLUSD could become even more important for VivoPower, playing a role in liquidity management and corporate treasury planning. This could create a bridge between traditional finance and DeFi in areas with weak banking systems. Ultimately, this means faster settlements and lower fees for vendors and partners in the regions where Tembo operates.