- Webus unveils $300M plan to build XRP reserve and drive global blockchain expansion.
- Funds will support cross-border payments, digital wallets, and Web3 loyalty tools.
- Despite revenue drop, Webus stock jumps 34% as investors back its XRP strategy.
In a major development, Webus International Limited has announced a strategic plan to raise $300 million to boost XRP adoption. The Chinese AI mobility company aims to use non-equity financing to support the use of XRP in cross-border payments. This decision will enable the company to deliver even faster and more affordable cash transfers to its international clients.
Webus to Raise $300M for XRP Reserve and Global Growth
With the resulting funds, Webus will add to its reserve of XRP. The company is confident that the reserve will make it possible to settle international payments immediately. At the same time, Webus will design tools based on blockchain technology for digital wallets, Web3 loyalty tokens and secure recorded bookings. The objective of these features is to improve and clarify the way customers use the app.
The money will also help Webus to enhance what it offers in countries worldwide. Doing this involves bringing AI-enabled mobility services to countries outside the United States. As a result, the $300 million plan focuses on three main objectives: establishing the XRP reserve, expanding blockchain infrastructure, and facilitating the company’s rapid global expansion.
Furthermore, Webus is renewing its joint partnership with Tongcheng Travel. Wetour and Tongcheng are helping to provide the Wetour × Tongcheng inter-city charter service, now used by millions. The large user base at Tongcheng will support Webus in connecting with more people in China. Thanks to this, Webus can build a strong standing in the national market as it looks to enter other countries.
CEO Nan Zheng says that teaming up with Tongcheng again will strengthen Webus’ position in China. At the same time, using XRP will allow the company to increase the efficiency of payments conducted across borders. Payouts and refunds can be made with XRP instantly and at a low price. As a result, Webus could distinguish itself from others in the competitive mobility and fintech market.
Webus Stock Soars 34% Despite Financial Struggles
However, there are still challenges to face. The $300 million plan is still being worked out and is based on reaching agreements with the funders. Webus is also experiencing financial difficulties. This year, the company’s revenue went down by 54%, leaving it at $5.35 million. Financial analysts assessed the company with a weak health rating which might reduce investor confidence.
Still, the stock market moved higher after the news was released. Once the announcement was made, shares of Webus (WETO) went up by more than 34%. This high jump reflects that investors think positively about the next steps the company is taking and its approach to blockchain.
Lastly, Webus’s focus on blockchain technologies proves how industries that used to avoid digital solutions are now turning to blockchain for help. To improve its services in Tongcheng and other areas, Webus has built an XRP reserve and started cooperating with Tongcheng. If successful, this could not only boost XRP adoption but also reshape how payments are made in the mobility industry.
