Webus International to Raise $300M to Power Global Chauffeur Network with XRP

Webus Bets Big on XRP: Plans Massive $300 Million Non-Equity Raise

Webus International, a China-based travel and customizable car service provider, announced plans to raise up to $300 million through non-equity financing aimed at establishing a substantial XRP reserve. This reserve will underpin its growing global chauffeur payment network, enabling more efficient and transparent cross-border transactions.

Leveraging XRP’s Cross-Border Settlement Capabilities

The company is actively integrating XRP’s blockchain technology to enhance its payment infrastructure, including on-chain booking records and a Web3-based loyalty program. CEO Nan Zheng emphasized that the financing strategy is designed to preserve company equity by focusing on loans, credit lines, and shareholder guarantees, rather than diluting shares through new equity issuance.

Strategic Partnership Renewal with Tongcheng Travel Holdings

In a move to strengthen its position, Webus International is renewing its partnership with Tongcheng Travel Holdings, one of China’s largest online travel agencies. Together, they plan to expand their “Wetour x Tongcheng” charter lines and utilize the XRP Ledger for seamless settlement of cross-border rides and driver payouts.

Growing Corporate Interest in XRP

This initiative aligns with similar efforts by other major firms, such as Saudi Arabia-based VivoPower International, which recently announced a $121 million XRP treasury. These developments highlight increasing corporate adoption of XRP, currently ranked as the fourth-largest cryptocurrency by market capitalization.

Non-Binding Financing Plan Subject to Due Diligence

Webus International clarified that the $300 million financing plan remains non-binding and contingent on final agreements and regulatory due diligence. The company’s approach signals a broader trend of leveraging crypto assets to innovate payment systems within the travel and mobility sectors.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.