Chinese company Webus International announced plans for a $300 million XRP-focused corporate treasury, following a recent filing with the U.S. Securities and Exchange Commission (SEC).

The initiative is set to utilize loans and credit facilities to support its operations as it seeks to integrate Ripple’s payment network for improved cross-border transactions. This move positions Webus alongside other notable firms, such as VivoPower, which are also exploring similar investments in XRP solutions.

Webus International

What to know:

• Webus aims to streamline its global chauffeur services with the use of the XRP ledger for payment settlements.
• The financing strategy remains non-binding and is awaiting further agreements.
• The company’s stocks experienced a notable increase of about 9% following this announcement.

For more details, refer to the SEC filing here.