Chinese travel and mobility conglomerate Webus International filed a Form 6-K with the U.S. Securities and Exchange Commission (SEC) on June 2 to formally disclose its plans to establish a $300 million XRP treasury.
The move marks one of the largest crypto treasury bids by a public Chinese company to date and signals rising institutional interest in XRP amid growing demand for borderless payment systems.
Notably, the SEC filing reveals a strategic partnership with Samara Alpha Management, which will advise Webus on the phased implementation of the XRP treasury.
According to the company, the allocation will be funded through non-equity financing, including commercial bank loans, internal cash reserves, and institutional credit lines—preserving shareholder value by avoiding share dilution.
“We are embracing blockchain and digital assets to align our services with the future of global commerce,” said Webus CEO Nan Zheng. “XRP offers us a low-cost, real-time settlement network that’s ideal for cross-border driver payouts and international bookings.”
The treasury forms the cornerstone of a broader transformation. In addition to digital asset reserves, Webus plans to build proprietary blockchain infrastructure and expand operations abroad. XRP will serve as the settlement layer for passenger payments and driver earnings, facilitating instant refunds and eliminating currency conversion frictions.
That said, this initiative follows a May 29 announcement, where Webus outlined its vision for a blockchain-integrated global chauffeur network powered by in-house XRP wallets. As part of its expansion, the firm also renewed a multi-year deal with Tongcheng Travel Holdings, tapping into a user base of over 240 million to scale its “Wetour” inter-city booking platform.
Webus’s treasury push reflects a broader trend among public companies diversifying their balance sheets with crypto, a strategy popularized by Michael Saylor’s Bitcoin-heavy firm, Strategy.
Webus joins a growing list of firms, such as Vivo Power and Wellgistics Health, that are turning to XRP for treasury diversification. Meanwhile, following the announcement, shares of Webus International (NASDAQ: WEBUS) surged 15% following the SEC filing, continuing a week-long rally that has now totaled nearly 44%.
Commenting on the development, crypto analyst Pompius emphasized its broader significance.“This could set a precedent for hundreds of mid-tier listed companies in Asia and Latin America. XRP isn’t being treated like a speculative crypto, it’s being adopted as core settlement infrastructure. Webus isn’t betting on price, they’re betting on utility. This is massive.” He stated.
Meanwhile, despite a modest 1.98% dip in the past 24 hours, XRP has held steady, boasting an impressive 316% gain year-over-year, according to CoinMarketCap data.
