What to know:
- In a bold move, Webus International is gearing up to raise a staggering $300 million through non-equity financing. Why? To support its global chauffeur payment network with an XRP reserve. Because who doesn’t want a little crypto in their backseat? 😏
- This initiative is not just about flashy cars; it aims to weave XRP’s cross-border settlement magic into Webus’ ecosystem, complete with on-chain booking records and a Web3-based loyalty program. Talk about a ride with benefits! 🚀
- Webus is also rekindling its partnership with Tongcheng Travel Holdings, planning to use the XRP Ledger for settling cross-border rides and driver payouts. Because nothing says “trust” like a ledger, right? 😂
Webus International, a China-based provider of customizable car and touring services for travelers worldwide, has announced its ambitious plan to raise up to $300 million through non-equity financing. This is all to establish an XRP reserve that will support its global chauffeur payment network. Who knew chauffeurs could be so financially savvy?
The reserve is part of a grander scheme to integrate XRP’s cross-border settlement capabilities into Webus’s ecosystem. This includes on-chain booking records and a Web3-based loyalty program. Because why not add a sprinkle of blockchain to your travel plans?
According to CEO Nan Zheng, the initiative aims to streamline international payments while preserving equity value. They plan to rely on loans, credit lines, and shareholder guarantees instead of issuing new shares. Sounds like a financial magic trick, doesn’t it?
This announcement comes on the heels of Saudi Arabia-based VivoPower International’s plans to build a $121 million XRP treasury. Clearly, the fourth-largest token by market cap is the new black! 🖤
However, let’s not get too excited; the financing plan is non-binding and subject to final agreements and due diligence. So, keep your fingers crossed! 🤞
Webus also mentioned it was renewing its partnership with Tongcheng Travel Holdings, one of China’s largest online travel agencies. They aim to extend their “Wetour x Tongcheng” charter lines, stating they would use the XRP Ledger to settle cross-border rides and driver payouts. Because who doesn’t love a good partnership? Especially when it involves crypto! 💸
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2025-05-30 12:09