Webus receives $100 million credit line to build XRP reserves

Odaily News Webus International Limited (WETO), a U.S.-listed mobile travel service provider, has signed a conditional securities purchase agreement with Ripple Strategy Holdings to obtain a preferred equity credit line of up to US$100 million.
It is reported that the relevant agreement also requires the U.S. Securities and Exchange Commission (SEC) registration statement to take effect and obtain the consent of the company's existing underwriters. Webus International Limited previously disclosed that it is exploring a financing strategy of up to US$300 million to establish an XRP reserve through diversified non-equity financing tools. (Globenewswire)