Webus International revealed a plan on May 29 To pick up a maximum of $ 300 million by using non-equity financing and to use capital in an XRP reserve that will support the worldwide driver Services Payments Network of the company.
The Chinese AI mobility company stated that the existing cash, commercial bank loans, shareholder guarantees and institutional credit lines can use to compile the reserve without issuing new shares.
CEO Nan Zheng said investors that the strategy is trying to maintain the share value and at the same time make it possible to make direct cross-border settlements, booking records in the chains and a web3-loyality program possible.
Broad initiatives
The proposed reserve represents the first of three initiatives financed by the package. The others include the development of a patented blockchain infrastructure and the acceleration of overseas expansion.
The management has not specified a timeline for closing the facilities or buying XRP. Nevertheless, it emphasized that non-equity instruments give webus latitude to adjust the reserve size according to market conditions.
Webus indicated that it will link the reserve to internal portfolios that process passenger rates and direct driver repayments, a model that, according to the state, is closing from the company’s vision on ‘boundless travel’.
As part of the same announcement, webus renewed a multi -year partnership with Tongcheng Travel Holdings, one of the largest online travel agencies in China.
The deal is expanding “WETOUR X TONGCHENG” Inter-City Charter lines in China, with the 240 million annual paying users of Tongcheng being accompanied by Webus’s vehicle network.
Zheng said that the domestic Alliance provides data and route density, while XRP would remove currency conversion friction for international journeys and the director’s payments.
Managers described the financing plan as a non-binding until definitive agreements have been signed and due diligence obstacles have been erased.
XRP Treasury Momentum
The disclosure of Webus arrived a day after Clean-Energy Group Vivopower International said that it had been given for a private placement of $ 121 million to build his own XRP treasure box.
Vivopower will sell 20 million ordinary shares to institutional investors in digital assets and strategic partners led by Saudi investor Prins Abdulaziz bin Turki al Saud.
The company intends to allocate the proceeds to XRP accumulation, infrastructure for the XRP whides and debt reduction.
Although various public companies have Bitcoin (BTC), treasuries in XRP remain unusual. Both webus and vivopower mentioned XRPs low-fee settlement layer and integration with the XRP whides as a motivation.
