Key dealers
- Webus plans a financing strategy of $ 300 million to create an XRP reserve.
- The XRP reserve aims to revolutionize cross-border payments with immediate, cheap settlements.
Nasdaq-listed Webus International Limited on Tuesday submitted Form 6-K To the US SEC, a strategic agreement with Samara Alpha Management LLC, which sets the stage for the potential establishment of an XRP tax chamber.
Some foreign private issuers with securities traded in the US exchange file Form 6-K with SEC to provide up -to -date information about their business, financial condition or material events.
The purpose is to keep us investors informed of material development or changes that occur between the issuer’s annual or quarterly reports, which ensures openness and equal access to information for US investors.
Registration comes after webus announced On June 2, it was investigating a financing strategy of up to $ 300 million to establish an XRP reserve aimed at supporting global payment solutions.
The Nasdaq-listed company said it plans to finance the XRP-focused government debt with the help of available cash reserves, bank lending, shareholder guarantees and institutional supporting credit facilities from traditional banks.
The Chinese supplier of Mobility Solutions also renewed its nationwide partnership with Tongcheng Travel Holdings Ltd., one of China’s largest online travel platforms, and expanded its “Wetour × Tongcheng” -labeled charter services throughout China, according to Monday.
“This strategic development has the potential to create a powerful synergy between our domestic and international operations,” says Nan Zheng, CEO of Webus, in a statement.
Zheng noted that the Tongcheng partnership would strengthen their China network infrastructure, while the integration of an XRP blockchain could potentially revolutionize how cross-border payments are handled for both partners and travelers all over the world.
In addition to establishing a strategic XRP reserve for immediate, cheap cross-border settlements, the proposed funding would be used to develop blockchain infrastructure, including wallets and web3 loyalty tokens.
“Our technology for technology now delivers a finally innovation,” Zheng added. “Domestic, our Tongcheng partnership provides unmatched scope over China’s mobility landscape. Internationally, our potential XRP implementation can eliminate traditional payment friction, which allows immediate settlement with Chauffeurs and service providers all over the world at the same time as we give immediate repayments when needed.” “
Webus shares have fallen about 40% since their Nasdaq debut in February, according to Yahoo Finance data. The share saw a precursor of about 6% on Wednesday.
