VivoPower’s Tembo to accept Ripple USD stablecoin for payments

VivoPower’s (VVPR) Tembo e-LV is accepting payments from customers and partners in RLUSD, the stablecoin established by Ripple Labs. As a business that operates globally across developed as well as developing nations, Tembo has been seeking practical solutions to real-life challenges that affect conventional international wire transfers, including lead time and high transaction costs. This is particularly pronounced for partners and customers in developing markets. With RLUSD, it is possible for international wire transfers to be effectuated almost instantaneously and at a fraction of the cost of conventional wire transfers. Furthermore, given that RLUSD is pegged 1:1 against the U.S. dollar and is fully backed by USD deposits, short-term U.S. treasuries, and other cash equivalents, it provides the capital stability that non-stablecoin digital assets cannot offer.