AI travel company Webus International plans to raise $300 million and establish an XRP reserve.

Gate News bot message, the artificial intelligence travel company Webus International announced on May 29 that it plans to raise up to $300 million through non-equity financing and will invest these funds into XRP reserves to support its global driver service Payment Network.

The company stated that it may raise reserves using existing cash, commercial bank loans, shareholder guarantees, and institutional credit lines without issuing new shares.

CEO Nan Zheng told investors that the strategy aims to maintain equity value while achieving instant cross-border settlement, on-chain booking records, and Web3 loyalty programs.

The proposed reserve is the first of three initiatives funded by the program, with other initiatives including the development of proprietary blockchain infrastructure and accelerating overseas expansion.

Source: CryptoSlate