Webus plans to raise up to $300 million for XRP treasury strategy

Chinese company Webus International Ltd. plans to raise up to $300 million through non-equity financing to establish an XRP cryptocurrency reserve. The US Securities and Exchange Commission (SEC) will oversee the fundraising process. CoinMarketCap reports on the filing of the relevant application.

To implement this initiative, Webus has partnered with Samara Alpha, a digital asset management corporation that also integrates Ripple technology to modernize cross-border transactions.

According to Webus' application, the company intends to use XRP to enhance the speed, accuracy, and transparency of payments while reducing costs. The adoption of blockchain technologies positions the corporation among the few that have pursued such transformations, as noted by the website’s experts. The allocation of $300 million indicates the company's confidence in XRP’s potential not only as a reserve asset but also as a payment solution.

Webus' ambitious initiative is still in its early stages of development. Markets will closely monitor its implementation and the process's impact on institutional demand for Ripple’s cryptocurrency.