Webus International Files SEC Form for $300 Million XRP Treasury Initiative
Webus International (WETO) filed a Form 6-K with the U.S. SEC, announcing plans to establish a $300 million treasury focused on XRP.
The key points include:
- Funding will come from loans and credit facilities, not new share issuances.
- Integration of Ripple’s payment network aims to enhance cross-border payments and booking transparency for chauffeur services.
- This follows VivoPower International's plans to create a $121 million XRP treasury.
- The financing plan is non-binding and requires final agreements.
- A partnership renewal with Tongcheng Travel Holdings aims to utilize the XRP Ledger for cross-border transactions.
- XRP has increased by 2% in the last 24 hours, while WETO shares rose about 9% in early trading.