Blockchain technology integrated into Vivopower's payroll system through partnership with Confirmo.
Vivopower International Plc, a leading company in the sustainable energy sector, has announced a significant strategic partnership with Confirmo, a prominent player in the digital payments industry. This partnership marks a major step for Vivopower in modernizing its payment systems and adopting a XRP-powered treasury model.
The partnership extends beyond payroll modernization for Vivopower. It forms part of the company's broader treasury and digital asset strategy, aiming to streamline its financial operations and contribute to the ongoing growth of blockchain adoption in global corporate finance.
Confirmo's platform, which currently processes over $60 million in payments each month, across 500 global clients, will support Vivopower's move towards cost-effective and reliable international transactions. The initiative will see Vivopower using Ripple's RLUSD stablecoin for settlements with suppliers and customers, offering a seamless payment infrastructure that is increasingly favoured by enterprises over traditional banking rails.
Despite regulatory and market scrutiny, the adoption of stablecoins and XRP-linked applications is on the rise among businesses. This shift could reshape Vivopower's financial operations, making them more efficient, scalable, and resilient.
The collaboration also aims to reduce costs, eliminate delays, and enhance financial oversight through enterprise-grade controls. Confirmo's technology includes features such as role-based approvals, detailed audit trails, and reporting systems for transparency and compliance.
In addition to the partnership with Confirmo, Vivopower's subsidiaries, Tembo and Caret Digital, are exploring blockchain adoption to complement their sustainability-focused business models. This move is expected to strengthen the group's ability to deliver efficient, scalable solutions.
Furthermore, employees and contractors of Vivopower will have the option to receive compensation in stablecoins, convertible into major fiat currencies. This move towards digital assets is designed to make the blockchain aspect invisible to end users, while ensuring faster payments, simplified reconciliation, and predictable settlement across borders.
By embracing blockchain technology, Vivopower positions itself among the firms that are translating blockchain innovation into practical, enterprise-grade solutions. The collaboration with Confirmo signals a broader strategic shift towards borderless, real-time settlements for Vivopower, reshaping its financial operations and contributing to the ongoing growth of blockchain adoption in global corporate finance.
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