- Webus filed a Form 6-K outlining plans to establish a US$300M XRP reserve, partnering with Samara Alpha to build a Ripple-based cross-border payment system.
- The reserve will be funded through cash, credit lines, shareholder guarantees, and institutional backing, supporting Webus’ expansion in travel and lodging.
- XRP will be integrated into Webus’ customer platforms to streamline vendor payments within its Wetour × Tongcheng ecosystem.
Chinese AI-driven mobility firm Webus International filed a disclosure with the US Securities and Exchange Commission that outlines a potential US$300M (AU$461M) XRP treasury initiative.
In a Form 6-K submitted Tuesday, the company revealed a strategic agreement with Samara Alpha Management, a move that would anchor its effort to establish a blockchain-backed cross-border payment system centered on Ripple’s XRP token.
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Webus Moves Forward With XRP Reserve
Webus said it plans to fund the initiative using a blend of existing cash, commercial credit lines, shareholder guarantees, and backing from traditional financial institutions. The filing did not specify a timeline for this.
The move builds on a prior statement issued May 29, where Webus hinted at establishing a blockchain-powered reserve fund to support expansion in its travel and lodging segments. In a press release, Samara Alphas’ CIO stated:
We are proud to partner with Webus on this long-term mandate. Our institutional approach to digital asset management combines rigorous risk management with specialized expertise in this evolving asset class. Upon activation, we will deliver secure, regulated infrastructure for responsible crypto asset management, leveraging our experience to provide Webus with professional oversight of their potential future digital asset operations
Adil Adbulali, CIO at Samara AlphaAs part of the rollout, the company said it will embed XRP functionality across customer-facing platforms, allowing for faster reconciliation between suppliers, vendors, and intercity charter partners operating through its “Wetour × Tongcheng” ecosystem.
Webus is the latest public company to join a growing slate of corporations experimenting with Ripple’s infrastructure and its ecosystem, which recently expanded its presence in the United Arab Emirates.
For instance, RLUSD was recently recognised by the Dubai Financial Services Authority (DFSA), allowing financial companies to integrate the asset across different operations, including payment, treasury management, and other related services.
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