Webus International said it intends to fund a $300 million XRP reserve using cash on hand, bank loans, shareholder support and credit lines so that current shareholders do not see their shares diluted. According to Nan, the following strategy will enable shareholders to save equity while enabling cutomers to process international transaction instantly as well as store their reservations on the blockchain.
Three-Part Initiative
Part of Webus’s plan is to launch the XRP reserve first, followed by building special blockchain infrastructure and expanding abroad with the same financial package. XRP is not part of a scheduled purchase plan by management, who explain that flexible financing lets them change their reserves whenever needed.
Partnership Expansion
Webus agreed to another multi-year partnership with Tongcheng Travel Holdings which will make Tongcheng’s users in China take advantage of Webus’s car charter service. By using XRP, Winding Tree will solve problems with different currencies, helping drivers and making travel more accessible to everyone, regardless of location.
The XRP Treasury has been growing in trend lately.
The WeBus announcement came after VivoPower International did aproximtaley $120 million private placement to collect XRP, receiving financing from Saudi Prince Abdulaziz bin Turki Al Saud and other institutional investors. Because XRP has lower fees and integrates well with the XRP Ledger, these companies decided to hold XRP instead of Bitcoin, suggesting more businesses are accumulating XRP.
