Chinese Firm Unveils $300M XRP Reserve Plan Amid Crypto Ban
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A China-based tech company is taking a bold step into the world of digital finance, despite the country's strict stance on cryptocurrency.
Webus International Limited, known for its AI-driven mobility services, has announced plans to build a substantial reserve of Ripple’s XRP token for global payment operations.
The company revealed it aims to secure up to $300 million in funding to support the initiative, combining internal funds, loans, shareholder backing, and credit lines from major banks. While specific details on when the XRP acquisition will begin remain unclear, Webus emphasized that the reserve is part of a broader strategy to enhance international financial transactions.
CEO Nan Zheng said the move is expected to bridge the company’s domestic operations with its growing global ambitions. He added that incorporating XRP into Webus’ infrastructure could streamline cross-border payments, benefiting both travel partners and customers worldwide.
In a related development, Webus has also renewed its alliance with Tongcheng Travel Holdings, one of the country’s largest online travel platforms. The partnership is expected to strengthen Webus’ presence within China, particularly as it prepares to scale globally.
This announcement comes just one day after U.S.-listed VivoPower International revealed a $121 million XRP treasury initiative, signaling a growing interest in Ripple’s technology among corporate players despite regulatory uncertainty in several regions.
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