- Webus International will create a $300 million XRP treasury, reporting its plans to the U.S. Securities and Exchange Commission (SEC).
- The travel booking company partnered with Samara Alpha Management for the treasury initiative and filed a Form 6-K detailing the move.
- XRP has seen major price growth, climbing 320% over the past year despite recent fluctuations.
- Other public companies are also establishing cryptocurrency treasuries, often inspired by the strategy used by Michael Saylor’s firm, Strategy.
- Webus also aims to use blockchain technology to improve cross-border settlements and transparency in its booking services.
Webus International, a China-based travel booking firm listed on Nasdaq, has announced its plans to establish a $300 million treasury in XRP, according to a recent filing with the U.S. Securities and Exchange Commission. The company disclosed its intention to invest a significant portion of its assets into the cryptocurrency as part of a broader corporate strategy.
The filing, made through Form 6-K on Tuesday, outlines an agreement between Webus and investment advisor Samara Alpha Management to develop the XRP treasury. According to the announcement, the process will follow a phased implementation approach. Webus stated, “This agreement represents a major step in Webus’s exploration of innovative treasury strategies, though it is important to note that the agreement is structured with a phased implementation approach.”
XRP, the cryptocurrency linked to Ripple, is currently trading at $2.21, representing a 3% decrease in the last 24 hours but a 320% increase over the past year, as shown by CoinGecko data. The company’s filings included public statements from May 29 and June 2 outlining the purpose and scope of the treasury project.
In addition to creating an XRP treasury, Webus plans to integrate blockchain technology into its core operations. The company said it will use blockchain to streamline cross-border settlements and enhance transparency in its travel booking services.
The move by Webus mirrors a trend among public companies building cryptocurrency treasuries, a strategy popularized by Michael Saylor’s firm Strategy, which holds large amounts of Bitcoin. According to BitcoinTreasuries.net, 223 public companies now hold Bitcoin worth a combined $356 billion.
Other firms, such as VivoPower and Wellgistics Health, have also moved toward building XRP-based treasuries, while companies like Sharplink and Upexi have announced plans to accumulate reserves in Ethereum and Solana. The surge in adoption comes as digital assets gain interest, with the crypto market capitalization rising almost 12% in the past three months.
Shares of Webus International Limited (WEBUS) rose nearly 15% to $2.82 following their announcement, pushing the stock’s weekly gain to around 44%.
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