- Webus plans a $300 million XRP treasury initiative.
- Stock of Webus rose 88% on the news.
- XRP price remained steady despite the announcement.
Main Content
Lede
Webus International has announced a $300 million XRP treasury plan for cross-border payments, revealed in a recent company statement by CEO Nan Zheng.
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The initiative marks a significant move towards blockchain payment solutions, with promising market reactions and potential industry influence.
Webus International Plans XRPs Expansion
Webus International, a China-based mobility service provider, announced a $300 million plan involving XRP for cross-border payments. The announcement is seen as a step forward in integrating blockchain solutions.
“Our potential XRP implementation can eliminate traditional payment friction, allowing instant settlement with chauffeurs and service providers worldwide while providing immediate refunds when needed.” — Nan Zheng, CEO, Webus International Source
CEO Nan Zheng spearheads the initiative, highlighting Webus’s strategy to eliminate payment friction. The funding avoids equity dilution, relying on commercial bank loans and other non-equity methods.
Market Reaction and Stock Surge
Following the announcement, Webus International’s stock price surged by 88%, indicating positive market sentiment. XRP, however, saw minimal price movement, remaining near $2.19.
The company’s move attracted attention, but XRP’s price reacted weakly, showing stable performance despite stock volatility. The reliance on non-equity funding methods supports existing share structure.
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Industry Implications and Future Prospects
As global companies increasingly add XRP for treasury use, industry observers note potential shifts in corporate treasury management. Benefits include real-time low-cost payment solutions.
Webus’s move reflects a broader industry trend, with firms like VivoPower also adopting XRP. This signifies a shift towards blockchain integration for operational efficiency and could impact regulatory landscapes.
Paul Barron highlights potential industry developments.
