China’s Webus International advances $300M XRP treasury plan with SEC filing

The China-based Webus International company is advancing its XRP treasury strategy with its latest filing to the Securities and Exchange Commission.

A June 3 document shared by XRP lawyer Bill Morgan has revealed a form 6-K filing by the Chinese AI-powered mobility company, Webus International, outlining its plans to launch a dedicated XRP treasury. 

The filing comes on the heels of the firm’s May 29 announcement of an initiative to raise $300 million through non-equity financing for a strategic XRP reserve, aimed at supporting its cross-border payments infrastructure.

According to the firm’s CEO, Nan Zheng, the potential implementation of an XRP reserve is expected to reduce traditional payment limitations and enable easier, more efficient payment systems.  To support this, the company has also signed with SEC-registered asset manager Samara Alpha, which will aid in establishing a strategic framework for potential future digital asset treasury operations. 

Webus International’s latest moves add to the growing institutional interest in XRP, building on the broader positive momentum in the Ripple ecosystem and recent milestones.

Ripple strengthens expansion with Dubai stablecoin approval 

In another major development, the Dubai Financial Services Authority has approved Ripple’s RLUSD stablecoin for use within the Dubai International Financial Centre. The greenlight enables the integration of the regulated stablecoin into DFSA-licensed payment platforms, further supporting Ripple’s ongoing regional expansion.

Meanwhile, Nasdaq-listed energy firm VivoPower International also recently announced a $121 million private placement to fund an XRP treasury of its own, highlighting the growing interest in the Ripple token across various regions.

However, the increased institutional activity has yet to translate into significant price action for XRP, which remains relatively flat. The token is trading at $2.25 at press time, with a modest 1.4% gain over the past 24 hours.