Chinese Firm Webus Plans $300 Million XRP Treasury to Boost Cross-Border Payments

China-based Webus International has recently filed a Form 6-K with the U.S. SEC, revealing its ambitious plan to establish a $300 million XRP-focused corporate treasury.

The automotive and hospitality company aims to leverage Ripple's blockchain-based payment network to enhance its cross-border payment capabilities and improve transparency in its booking operations.

This move aligns Webus with a growing trend among corporations adopting Ripple's ecosystem and XRP for strategic financial initiatives.

A Closer Look at Webus International

Webus International Limited operates primarily in the automotive and hospitality sectors, offering chauffeur services and managing luxury travel experiences. The company is listed on Nasdaq under the ticker "WETO" and has a growing presence in China's travel and transportation industry.

Financially, Webus has shown steady growth, with its annual revenue increasing by 15% year-over-year in 2024, reaching approximately $200 million. Despite its expansion, the company maintains a manageable debt-to-equity ratio of 0.45, signaling strong financial health.

Notably, Webus has previously explored blockchain solutions in logistics and payment systems, which may have influenced its decision to adopt XRP for this new initiative.

Funding Strategy and Market Impact

Webus plans to raise the $300 million required for the treasury through loans and credit facilities, avoiding equity dilution. The company has partnered with asset manager Samara Alpha to develop its XRP strategy.

"These strategic developments have the potential to create a powerful synergy between our domestic and international operations," said Nan Zheng, Chief Executive Officer of Webus. "Our partnership with Tongcheng strengthens our China network infrastructure, while the integration of an XRP blockchain integration has the potential to revolutionize how we handle cross-border payments for both partners and travelers worldwide."

This announcement follows similar moves by other companies, including VivoPower International, which recently announced a $121 million XRP-centric treasury initiative, and Wellgistics, a Florida-based logistics company, which secured $50 million in funding for XRP integration. The news has positively impacted Webus' stock, which surged by over 91%, rising from around $1.80 to approximately $3.45 following the May 29 announcement. XRP also experienced a slight uptick in price, reflecting increased market interest.

Expanding Blockchain Integration in Business

Webus' initiative includes plans to integrate Ripple's payment network into its global chauffeur services, streamlining cross-border payments and driver payouts.

The company is also renewing its partnership with Tongcheng Travel Holdings, one of China's largest online travel agencies, to extend their "Wetour x Tongcheng" charter lines. The XRP Ledger will be used to settle payments for these services, showcasing the practical applications of blockchain technology in the travel and hospitality industry.