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OpenVPP, a project that brings decentralized payment and tokenization solutions into the electric utility industry, has emerged as one of the top gainers over the past 24 hours.
The projectās native token surged by over 47% following the announcement of its partnership with Sahas Katta, the co-founder and CEO of Smartcar, a company focused on the automobile industry. On-chain data from the price-tracking website, CoinGecko, shows that the latest price movement marks an all-time high (ATH) for the cryptocurrency.
In the energy sector, consumers and industries collectively pay over $10 trillion annually to cover their energy bills. However, traditional payment solutions lack the necessary infrastructure to operate seamlessly with smart devices, such as electric cars and controllable thermostats. These payment options have various drawbacks, like slow manual payment procedures and concerns about centralization.
Powered by blockchain technology, OpenVPP aims to address payment issues within the global electricity industry. The project brings payment solutions, stablecoin-based accounting, and energy usage tracking to its users.
OpenVPP falls under the category of decentralized physical infrastructure networks (DePINs), where blockchain technology and tokenized incentives are utilized to address real-world infrastructures, such as the energy sector.
OpenVPP recently disclosed that it has joined the Circle Alliance Program, an initiative that enables partners to build stablecoin-powered solutions. Being a partner, OpenVPP can bring a decentralized payment layer for users within the energy sector. According to the project, these initiatives will aid its effort to establish āthe Internet of Energy.ā
The project also disclosed that it would partner with a power and utilities infrastructure provider. On October 25th, the energy-focused protocol will launch the OpenVPP World platform, making its services more accessible to users.
OpenVPPās announcement explained that the renowned venture capital firm a16z backs its new partner, Smartcar. It also serves popular companies like Uber and Lyft.
Highlighting how the collaboration will benefit both parties and their ecosystems, the announcement stated:
āThis partnership will allow OpenVPP to connect 43 vehicle brands directly to utilities, gaining access to the over 700 million internet enabled cars that exist globally.ā
OpenVPPās founder, Parth Kapadia, added that the projectās development team has already begun integrating Smartcarās API stack into OpenVPP World.
Notably, this is not the first time that automobile-focused companies have explored the crypto market. Companies like Uber, Mansory, and Grab have dipped their toes into the crypto waters. This shows their confidence in the trillion-dollar crypto industry.
OpenVPP launched its native token, OVPP, via the Ethereum blockchain in late August 2025. The token will be used for payments, governance, and incentives within the OpenVPP ecosystem.
According to the projectās whitepaper, the total supply is capped at 1 billion tokens. The tokenomics entail that 5% of the total supply is earmarked for strategic partners, 5% for the team, 10% for ecosystem rewards, and 80% for the community and liquidity.
Several centralized exchanges, including MEXC, have currently listed the Ethereum-based token.
Notably, OVPPās price surge today took its valuation to its ATH of $0.1789. At the time of writing, the digital asset has rebalanced at $0.1743, representing a 29.5% increase. Its market capitalization is over $140.84 million.
The post OVPP Token Pumps Over 47% as OpenVPP Partners Smartcar appeared first on Cointab.
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