Webus, a publicly listed company on the US stock market, has obtained a $100 million credit line from Ripple Strategy, which may be used to establish an XRP reserve.

On July 1, according to globenewswire, US-listed mobility service provider Webus International Limited (WETO) signed a conditional securities purchase agreement with Ripple Strategy Holdings to obtain a credit line of up to $100 million in preferred equity. The $100 million commitment will be determined by the company within 24 months after the SEC registration statement becomes effective and with the approval of the company's existing underwriters, with each withdrawal amount ranging from $250,000 to $3 million, depending on market conditions and capital needs. On May 30, Webus International Limited announced that it is exploring a financing strategy of up to $300 million to establish an XRP reserve through diversified non-equity financing tools.