🇨🇳 Chinese firm Webus files to raise $300 million for $XRP treasury plan.

Webus International, a China-based automotive and hospitality company, has filed a Form 6-K with the US Securities and Exchange Commission (SEC) to raise up to $300 million for a XRP-focused corporate treasury plan. This plan involves creating a substantial XRP reserve, managed in partnership with Samara Alpha Management LLC, and integrating Ripple's blockchain-based payment technology to enhance cross-border transactions.

The company aims to leverage XRP's speed and low transaction costs to eliminate currency conversion headaches and enable instant, transparent payments for its global network of chauffeurs, travel partners, and customers.

Webus will seek to raise $300 million through non-equity financing or credit facilities, preserving shareholder value while providing capital for its blockchain strategy.

Webus has partnered with Samara Alpha to manage its XRP strategy and with Ripple to integrate its payment technology.

The company will develop proprietary blockchain infrastructure, including in-house wallets, on-chain booking records, and a Web3 loyalty program.

This move positions Webus among a growing number of companies embracing blockchain-native assets for treasury purposes, and investors will be closely monitoring the company's execution and potential impact on institutional demand for XRP.#CUDISBinanceTGE $XRP