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International Chauffeur Service Webus Plans $300M Raise for XRP Strategic Reserve
The China-based company says it aims to integrate XRP payments into its global chauffeur network.
Updated May 30, 2025, 5:42 p.m. Published May 30, 2025, 7:48 a.m.
What to know:
- Webus International plans to raise up to $300 million through non-equity financing to support its global chauffeur payment network with an XRP reserve.
- The initiative aims to integrate XRP’s cross-border settlement capabilities into Webus’ ecosystem, including on-chain booking records and a Web3-based loyalty program.
- Webus is renewing its partnership with Tongcheng Travel Holdings to use the XRP Ledger for settling cross-border rides and driver payouts.
Webus International, a China-based provider of customizable car and touring services for travelers worldwide, said it plans to raise as much as $300 million through non-equity financing to establish an XRP reserve supporting its global chauffeur payment network.
The reserve is part of a broader push to integrate XRP’s cross-border settlement capabilities into Webus’s ecosystem, including on-chain booking records and a Web3-based loyalty program, the company said.
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The initiative aims to streamline international payments while preserving equity value by relying on loans, credit lines and shareholder guarantees rather than issuing new shares, CEO Nan Zheng said in the statement.
The announcement follows Saudi Arabia-based VivoPower International’s plans to build a $121 million XRP treasury, indicative of growing interest from companies in the fourth-largest token by market cap.
The financing plan is non-binding and subject to final agreements and due diligence.
Webus added it was renewing a partnership with Tongcheng Travel Holdings, one of China’s largest online travel agencies, to extend their “Wetour x Tongcheng” charter lines — stating they would aim to use the XRP Ledger to settle cross-border rides and driver payouts.
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