Microbus International intends to raise up to US$300 million to build XRP reserves, develop cross-border payment solutions and blockchain infrastructure

PANews
PANews
XRP+0.53%

PANews reported on May 30 that, according to GlobeNewswire, mobility service provider Webus International Limited (NASDAQ: WETO) announced two strategic partnerships: it intends to raise up to $300 million through non-equity financing to establish XRP reserves for the development of cross-border payment solutions and blockchain infrastructure; At the same time, it renewed its national travel cooperation agreement with Tongcheng Travel Holdings Limited (HKSE: 0780.HK). The funding plan will support three main directions: building a strategic reserve of XRP, developing a wallet and Web3 loyalty system, and accelerating global expansion. The financing plan is still under discussion and the final terms are yet to be determined.

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