Webus Backs XRP in $300M Global Payments Push

Hangzhou-based Webus International Limited, a firm popular for delivering high-end and AI-powered chauffeur services, is now integrating XRP for global payments. It has made two significant announcements to expand its international travel services.

One of the critical components of this initiative is making use of XRP, an international digital currency aimed at accelerating low-cost global payments. Webus is first venturing into a funding strategy for as much as $300 million. This money would be raised from non-equity sources such as bank loans, shareholder guarantees, and institutional credit, so it would not decrease the shares held by existing investors’ value.

The primary reason for this funding is to fund Webus’s utilization of XRP in global payment solutions. Through the establishment of an XRP reserve, Webus aims to facilitate international payments faster and at a lower cost, both for itself and for customers.

The funds will also enable the company to create blockchain-based solutions such as digital wallets, Web3 reward tokens, and reservation systems stored safely on the blockchain. These are some of the steps taken by Webus in its larger goal to go global and introduce modern technology into the travel sector.

Second, the company has re-upped its China-wide alliance with Tongcheng Travel, one of China’s largest travel platforms with more than 240 million paying users annually. The alliance will roll out their co-branded service, “Wetour × Tongcheng,” nationally across China.

It brings Webus’s luxury chauffeur service together with Tongcheng’s vast user base and robust transportation data to enhance China travel choices. Travelers can look forward to smoother inter-city journeys and improved first- and last-mile connections.

Webus CEO Nan Zheng described how the combination of these two breakthroughs will enable Webus to provide high-quality travel experiences within and outside China. As the partnership with Tongcheng deepens the company’s hold in the Chinese market, the XRP plan brings new opportunities for overseas travel by eliminating payment lags and enabling instant refunds.