Webus International (WETO), a China-based global chauffeur and travel services firm, saw its stock jump by nearly 9% after filing a Form 6-K with the U.S. Securities and Exchange Commission (SEC), outlining plans to establish a $300 million corporate treasury backed by XRP, Ripple’s native cryptocurrency.
Webus to Build $300M XRP Reserve
The company’s filing reveals an ambitious initiative to integrate Ripple’s XRP Ledger into its payment infrastructure, aiming to streamline cross-border payments and improve settlement transparency. Notably, the treasury will be funded through loans and credit facilities, avoiding shareholder dilution from new stock issuance.
The move mirrors recent actions by other firms such as VivoPower International and Wellgistics, which have also made XRP part of their long-term digital asset strategy — signaling growing institutional interest in Ripple’s ecosystem.
Key Highlights
- $300M XRP Treasury: Webus plans to accumulate XRP to enhance liquidity and power its cross-border booking and payout operations.
- RippleNet Integration: The initiative includes plans to adopt Ripple’s blockchain-powered payment network across its chauffeur service platforms.
- Strategic Funding Approach: Webus will utilize credit facilities instead of equity issuance to preserve shareholder value.
- Stock Reaction: Shares of Webus rose 9% in early Wednesday trading on Nasdaq.
Strengthening Partnerships and Use Cases
Webus also announced the renewal of its partnership with Tongcheng Travel Holdings, one of China’s largest online travel agencies. The collaboration will expand their “Wetour x Tongcheng” charter services, with an added focus on using the XRP Ledger for ride settlement and international driver payouts.
This real-world application adds to XRP’s credibility as a functional utility token in the digital payments space — especially amid increasing corporate adoption across Asia.
Market Reaction and Broader Implications
Following the news, XRP gained 2% in the last 24 hours, slightly outperforming the broader crypto market. The move by Webus underscores a larger trend of blockchain integration into traditional service industries, and highlights Ripple’s growing role in cross-border finance and enterprise settlements.
As institutional investment in digital assets continues to gain traction, strategic moves like Webus’ could drive further adoption of blockchain-based payment systems — especially in high-volume, international transaction sectors.
