Ripple-backed Company’s $100 Million XRP Announcement Causes a Stir

US-listed Webus International Limited has announced that it has signed a senior equity credit line agreement with Ripple Strategy Holdings for up to $100 million. According to the press release, the financing will be used as part of Webus’ strategy to increase its XRP reserves. Webus operates as an AI-powered mobility solutions provider that offers customizable luxury chauffeur services globally. The credit line reflects Webus’ confidence in its XRP-based growth strategy, said CEO Nan Zheng. “This $100 million facility minimizes shareholder dilution by allowing us to raise capital only when we need it, as we aim to accelerate our growth in North America and Asia Pacific,” Zheng said. Related News: Binance Founder Changpeng Zhao Reveals He Sent Vitalik Buterin $10 Million Worth of BNB – Here’s Why According to the agreement, the company will be able to use funds in tranches ranging from $250,000 to $3 million, depending on market conditions and capital needs, under the credit line that will be valid for 24 months. The structure is designed to be shareholder-friendly with market-based competitive pricing and downside protection features. It was announced that the funds to be obtained will be used for XRP-supported payments, blockchain-based loyalty programs and other global expansion initiatives. Following the announcement, Webus shares rose as much as 87% but have since pared back some of those gains. *This is not investment advice. Continue Reading: Ripple-backed Company’s $100 Million XRP Announcement Causes a Stir

Source: BitcoinSistemi