The senior equity line of credit will enable Webus to access tranches ranging from $250,000 to $3 million over a 24-month period.
Webus International Limited, a Nasdaq-listed provider of AI-driven mobility and chauffeur services, announced Wednesday it has secured a conditional Securities Purchase Agreement with Ripple Strategy Holdings for up to $100 million in funding to acquire XRP $XRP .
Key Takeaways:
Webus secured up to $100 million in funding to back its XRP treasury plans.
The firm set a $300 million mandate for XRP operations, aiming to expand crypto payments and loyalty programs.
Webus shares spiked 130% on the news before settling around $2.40.
The senior equity line of credit will enable Webus to access tranches ranging from $250,000 to $3 million over a 24-month period, pending regulatory approvals.
Webus said the funding will support its XRP treasury strategy, including crypto-enabled payments, blockchain-based loyalty programs, and expansion across key markets in North America and Asia-Pacific.
Webus Sets $300M Mandate for XRP Treasury
The announcement comes on the heels of Webus establishing a Delegated Digital-Asset Management Agreement with a mandate cap of up to $300 million for XRP treasury operations.
Shares of Webus initially surged 130% following the news but later retreated, with the stock trading around $2.40 at press time, according to Yahoo Finance.
Webus CEO Nan Zheng described the agreement as a strong vote of confidence in the company’s approach, noting that the flexible structure of the credit line allows Webus to raise capital as needed while limiting dilution for existing shareholders.
“We believe this will help us accelerate the growth across North America and Asia-Pacific, and strengthen our leadership in crypto-powered premium mobility,” Zheng said.
While little is publicly known about Ripple Strategy Holdings, its name suggests a focus on XRP-related investments.
The entity is not affiliated with Ripple Labs, the company behind the XRP Ledger and XRP token.
In May, VivoPower also invested $121 million in XRP as a strategic reserve, making it the first company in the world with an XRP-focused treasury.
Later, on June 11, VivoPower, a publicly listed firm, announced a partnership with the Flare blockchain to generate yield from its XRP holdings.
Ripple Drops Cross-Appeal Against SEC to Resolve Case
Last week, Ripple CEO Brad Garlinghouse revealed the company will withdraw its cross-appeal against the SEC, adding that the regulator is also expected to drop its own appeal.
The announcement followed a U.S. district court decision rejecting a joint request from Ripple and the SEC to reduce Ripple’s $125 million civil penalty and overturn the ruling that classified Ripple’s institutional XRP sales as securities transactions.
In her ruling, Judge Analisa Torres noted Ripple’s readiness to “push the boundaries” of the earlier summary judgment, suggesting a risk of future violations.
Ripple’s chief legal officer, Stuart Alderoty, said the firm faced a choice between dropping the appeal or continuing to contest the finding.
He emphasized that regardless of the decision, “XRP’s legal status as not a security remains unchanged,” and assured that Ripple’s business operations would continue as usual.
Appreciate the work. Follow me. 😍 Thank You. 👍 FOLLOW BeMaster BuySmart 🚀 TO FIND OUT MORE $$$$$ 🤩 BE MASTER BUY SMART 💰🤩
