Is XRP Dead? Price Fails to Rally as China’s Webus Announces $300M Strategic Reserve
The post Is XRP Dead? Price Fails to Rally as China’s Webus Announces $300M Strategic Reserve appeared first on Coinpedia Fintech News
XRP has turned out to be the new favorite for corporate treasuries. Companies are now adding XRP to their balance sheets. Latest addition is Webus International, a Chinese AI company, which has just announced a $300 million plan to build an XRP reserve. This reserve is aimed at boosting global payment settlements and financing will come through non-dilutive sources such as bank loans, institutional credit, and internal reserves. All without issuing new shares.
WETO Stock Jumps 88%
WETO stock reacted to the news positively as it surged 88% in the day. It peaked near $4, before settling down to $3.3. XRP price held steady despite the big announcement. It is currently trading at $2.19, down 4% in the last 24 hours.
The XRP reserve will enable real-time cross-border transactions, lower costs, and push for transparency. It also supports instant driver payouts and faster traveler refunds using crypto. The deal is yet to be finalised.
Blockchain and Mobility Combine; Renewed Partnerships
Webus also plans to build its own blockchain system to support users and partner operations. This will include on-chain booking records, crypto wallets, and a Web3 loyalty program linked to its travel services, all designed to boost user engagement and data security.
By combining mobility with blockchain, Webus aims to speed up payments, reduce banking delays and currency exchange issues. This comes as Webus renewed its partnership with Tongcheng Travel, one of China’s top 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.”
VivoPower Raises $121M in XRP Treasury Strategy
Webus isn’t the only one turning to XRP. Recently, VivoPower, a Nasdaq-listed firm launch the first XRP-focused treasury strategy. It has raised $121 million in funding and was led by Prince Abdulaziz bin Turki Al Saud, who helped raise the funds through a private share sale.
The company plans to use the funds to buy more XRP, invest in the XRPL DeFi ecosystem, and pay down debt.
Other companies jumping on the XRP trend include Hyperscale Data, which plans to buy $10 million in XRP to expand its blockchain services, and Wellgistics Health, which secured $50 million to use XRP for faster, cheaper payments.
