The Ripple-backed company's announcement of 100 million Dollar XRP has made waves!

Webus International Limited, listed on the US exchange, announced that it has signed a senior equity credit line agreement of up to 100 million dollars with Ripple Strategy Holdings. According to the press release, this financing can be used as part of Webus's strategy to increase its XRP reserves.

Webus operates as an AI-powered mobility solutions provider offering customizable luxury chauffeur services worldwide. The company's CEO, Nan Zheng, stated that the provided credit line reflects confidence in Webus's XRP-based growth strategy. Zheng said, "This $100 million opportunity allows us to raise capital only when we need it, minimizing shareholder dilution. This way, we aim to accelerate our growth in North America and the Asia-Pacific region."

According to the agreement, under the credit line that will be valid for 24 months, the company will be able to use funds in tranches ranging from 250 thousand to 3 million dollars, depending on market conditions and capital needs. 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.

After the announcement, Webus shares experienced an increase of up to 87%, but they lost some of these gains.