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Webus International Limited (WETO), a recognized provider of AI-driven mobility solutions specializing in premium, customizable chauffeur services for travelers worldwide, today announced two complementary strategic developments that significantly advance its vision of a seamless, borderless travel ecosystem.
The Company is exploring a financing strategy of up to US$300 million (the “Financing”) through a diversified mix of non-equity funding vehicles to establish an XRP reserve for supporting global payment solutions. This approach includes the potential use of available cash reserves, bank lending, shareholder guarantees, and third-party institutional-backed credit facilities from traditional banks. By leveraging these non-dilutive financing methods, the Company seeks to maintain capital flexibility, support long-term growth, and preserve shareholder value while advancing its strategic objective in the digital asset and cross-border paryment space. In addition, the Company renewed its nationwide mobility partnership (the “Partnership”) with Tongcheng Travel Holdings Ltd. (0780.HK), one of China’s largest online travel platforms.
"These strategic developments have the potential to create a powerful synergy between our domestic and international operations," said Nan Zheng, Chief Executive Officer of Webus. "Our partnership with Tongcheng strengthens our China network infrastructure, while the integration of an XRP blockchain integration has the potential to revolutionize how we handle cross-border payments for both partners and travelers worldwide."
The Financing, which is currently under discussion, would provide support for three key Webus initiatives:
- Establishment of a strategic XRP reserve enabling instant, low-cost cross-border settlements
- Development of a comprehensive blockchain infrastructure including wallets, Web3 loyalty tokens, and on-chain booking records
- Acceleration of global expansion initiatives
The renewed multi-year strategic cooperation with Tongcheng extends their successful "Wetour × Tongcheng" branded inter-city charter lines throughout China. The partnership leverages Tongcheng’s vast mobility data and 240 million annual paying users with Webus’s premium vehicle network to deliver seamless first- and last-mile services domestically.
"Our technology roadmap now delivers end-to-end innovation," Zheng added. "Domestically, our Tongcheng Partnership provides unmatched reach across China’s mobility landscape. Internationally, our potential XRP implementation can eliminate traditional payment friction, allowing instant settlement with chauffeurs and service providers worldwide while providing immediate refunds when needed. Together, these initiatives can create a truly borderless travel experience for our customers."
The Financing Plan remains non-binding until definitive documentation is completed and specified conditions are satisfied.