thenewscrypto.com
- Webus files Form 6-K with the SEC to raise $300M for an $XRP treasury.
- Samara Alpha Management will manage the $XRP treasury strategy.
Nasdaq-listed Webus International has filed1322 a Form 6-K with the U.S. Securities and Exchange Commission (SEC), detailing its intent to raise $300 million for an $XRP-focused corporate treasury. The Chinese firm, known for its automotive and hospitality ventures, aims to leverage Ripple’s payment infrastructure while adopting $XRP as a core digital asset.
According to the June 2 SEC filing, Webus intends to secure the funds through non-equity and credit financing, a strategy similar to that used by MicroStrategy. Webus first announced its financing plans on May 29.
Moreover, Webus has partnered with Samara Alpha Management, a New York-based asset manager. The firm will oversee the development of the $XRP reserve under a Delegated Digital-Asset Management Agreement. Together, they aim to establish a secure and efficient framework for digital asset management.
In addition to treasury plans, Webus will integrate Ripple’s cross-border payment system. This move aims to enhance transaction speed and transparency in its hospitality and travel platforms. The Ripple network, powered by the $XRP Ledger, settles transactions in 3-5 seconds with minimal fees.
Institutional Demand for $XRP Surges
Institutional adoption of $XRP continues to expand. Recently, VivoPower became the first publicly traded company to launch an $XRP treasury strategy. The firm raised $121 million in a private placement backed by Saudi investors. Similarly, Wellgistics Health revealed a $50 million plan to adopt $XRP for treasury and payment infrastructure.
These developments come amid rising activity in $XRP derivatives. Open Interest rose by 1.31% to $4 billion, alongside a wave of short liquidations. Analysts interpret these shifts as signs of renewed bullish momentum in $XRP markets.
Ripple CEO Brad Garlinghouse also denied recent acquisition rumors involving stablecoin issuer Circle. Ripple instead continues to push forward with its own stablecoin and cross-border solutions, aligning with the trend of digital asset institutionalization.