Webus Plans $300M XRP Treasury
Webus International, a Chinese automotive and hospitality company, has filed a Form 6-K with the U.S. SEC, detailing a plan to establish a $300 million treasury centered around XRP. This move is supported by non-equity financing and partnerships, including collaboration with asset manager Samara Alpha for strategic development and integration of Ripple’s blockchain to enhance cross-border transactions and transparency. This initiative marks a growing interest in Ripple's ecosystem among major firms, following similar moves by companies like VivoPower and Wellgistics.
FAQ
❓ What is Webus International's new treasury initiative?
Webus aims to create a $300 million treasury focusing on XRP to enhance financial operations and integrate blockchain technology.
❓ How will Webus use Ripple's technology?
Webus plans to use Ripple's blockchain to improve cross-border payments and increase transparency in its services.
❓ Which other companies are adopting XRP?
Similar initiatives have been announced by companies like VivoPower and Wellgistics, indicating growing institutional adoption of XRP.