Webus Worldwide, a China-based supplier of customizable automotive and touring companies for vacationers worldwide, mentioned it plans to boost as a lot as $300 million via non-equity financing to determine an XRP XRP reserve supporting its international chauffeur fee community.
The reserve is a part of a broader push to combine XRP’s cross-border settlement capabilities into Webus’s ecosystem, together with on-chain reserving information and a Web3-based loyalty program, the corporate mentioned.
The initiative goals to streamline worldwide funds whereas preserving fairness worth by counting on loans, credit score traces and shareholder ensures moderately than issuing new shares, CEO Nan Zheng mentioned within the assertion.
The announcement follows Saudi Arabia-based VivoPower Worldwide’s plans to construct a $121 million XRP treasury, indicative of rising curiosity from corporations within the fourth-largest token by market cap.
The financing plan is non-binding and topic to last agreements and due diligence.
Webus added it was renewing a partnership with Tongcheng Journey Holdings, considered one of China’s largest on-line journey businesses, to increase their “Wetour x Tongcheng” constitution traces — stating they might intention to make use of the XRP Ledger to settle cross-border rides and driver payouts.
