Webus International Ltd. (Nasdaq: WETO) announced on May 29 a dual-pronged initiative aimed at transforming both its international payments infrastructure and domestic mobility network. The Hangzhou-based company, a provider of AI-enhanced chauffeur services, outlined a strategic financing plan of up to $300 million and confirmed the renewal of its nationwide cooperation with Chinese travel platform Tongcheng Travel Holdings Ltd. These moves, the company stated, are designed to advance its vision of a seamless, globally integrated travel experience.

Webus explained:

The company is exploring a financing strategy of up to US$300 million … through a diversified mix of non-equity funding vehicles to establish an XRP reserve for supporting global payment solutions.

“This approach includes the potential use of available cash reserves, bank lending, shareholder guarantees, and third-party institutional-backed credit facilities from traditional banks,” the Chinese firm added. The funding would back the formation of a strategic XRP reserve, development of blockchain-based wallets and loyalty tokens, and drive Webus’ global service expansion.

Alongside the digital asset initiative, Webus confirmed it had renewed its multi-year strategic partnership with Tongcheng Travel to broaden the “Wetour × Tongcheng” inter-city charter network across China. Zheng emphasized the complementary nature of the developments: “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.” Tongcheng’s platform, which supports 240 million annual paying users, will continue to provide mobility data and user access that bolster Webus’ reach in the domestic travel market.

Webus Chief Executive Officer Nan Zheng highlighted the expected impact of this shift, stating:

Internationally, our potential XRP implementation can eliminate traditional payment friction, allowing instant settlement with chauffeurs and service providers worldwide while providing immediate refunds when needed.

“Together, these initiatives can create a truly borderless travel experience for our customers,” he opined. Although regulatory uncertainties persist around the use of digital assets, blockchain advocates point to the technology’s capacity to reduce settlement times, lower transaction costs, and enhance transparency. By adopting XRP within its ecosystem, Webus positions itself at the intersection of fintech and mobility innovation.

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