Webus International reveals $300M XRP treasury bid to power borderless payments

Webus International revealed a plan on May 29 to raise up to $300 million through non-equity financing and deploy the capital into an XRP reserve that will support the company’s global chauffeur services payments network.

The Chinese AI-powered mobility firm stated that it may utilize existing cash, commercial bank loans, shareholder guarantees, and institutional credit lines to assemble the reserve without issuing new shares. 

CEO Nan Zheng told investors the strategy seeks to preserve equity value while enabling instant cross-border settlements, on-chain booking records, and a Web3 loyalty program.

Broad initiatives

The proposed reserve represents the first of three initiatives financed by the package. The others include the development of a proprietary blockchain infrastructure and the acceleration of overseas expansion.

Management did not specify a timeline for closing the facilities or purchasing XRP. Still, it emphasized that non-equity instruments give Webus latitude to adjust the reserve size according to market conditions.

Webus indicated it will couple the reserve with in-house wallets that process passenger fares and immediate driver refunds, a model it says aligns with the company’s vision of “borderless travel.”

As part of the same announcement, Webus renewed a multi-year partnership with Tongcheng Travel Holdings, one of China’s largest online travel agencies. 

The deal extends “Wetour x Tongcheng” inter-city charter lines across China, pairing Tongcheng’s 240 million annual paying users with Webus’s vehicle network. 

Zheng said the domestic alliance supplies data and route density, while XRP-based payments would remove currency-conversion friction for international trips and driver payouts.

Company executives described the financing plan as non-binding until definitive agreements are signed and due diligence hurdles cleared. 

XRP treasury momentum

Webus’s disclosure arrived one day after clean-energy group VivoPower International said it had secured commitments for a $121 million private placement to build its own XRP treasury. 

VivoPower will sell 20 million ordinary shares to institutional digital asset investors and strategic partners led by Saudi investor Prince Abdulaziz bin Turki Al Saud. 

The company plans to allocate the proceeds to XRP accumulation, infrastructure for the XRP Ledger, and debt reduction.

Although several public companies hold Bitcoin (BTC), treasuries denominated in XRP remain uncommon. Both Webus and VivoPower cited XRP’s low-fee settlement layer and integration with the XRP Ledger as motivation.

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