Webus International Limited plans to raise $300 million to enhance XRP adoption for global payments, supporting cross-border transactions and blockchain expansion.
The funds will be utilized to build up XRP reserves, develop blockchain tools for digital wallets and loyalty programs, and facilitate the company's global growth strategies.
Despite facing a revenue drop of 54%, Webus stock surged by 34% post the announcement, showcasing investor confidence in the company's XRP-driven strategy for faster and cost-effective international payments.
Webus also aims to strengthen its presence in the Chinese market through its partnership with Tongcheng Travel and leverage XRP to streamline cross-border transactions, positioning itself uniquely in the mobility and fintech sector.