Chinese Crypto Firm's Ambitious $300M XRP Investment Aims to Reach New Heights

China-Based Firm Webus Plans $300 Million XRP Treasury Amid Crypto Market Surge

Webus International, a China-based travel booking firm, has filed with U.S. regulators to establish a $300 million XRP treasury. This strategic move follows a recent surge in the cryptocurrency market, as more public companies explore the potential of digital assets on their balance sheets.

According to the filing with the Securities and Exchange Commission, Webus has entered into an agreement with investment advisor Samara Alpha Management to facilitate the creation of the XRP treasury. This decision reflects the growing trend among a select group of public companies seeking to capitalize on the recent upswing in the cryptocurrency market.

XRP, the Ripple-linked token, is currently trading at $2.21, down approximately 3% in the past 24 hours but up a remarkable 320% over the past year, as per CoinGecko data. The token's value has surged in recent months, nearly matching its all-time high price from 2017.

Webus International, a Nasdaq-listed firm, also stated its plans to integrate blockchain technology into its systems, aiming to streamline cross-border settlements and enhance the transparency of its travel booking services.

The filing comes as a growing number of public companies explore the crypto-holding strategy first popularized by Michael Saylor's software firm, MicroStrategy. According to BitcoinTreasuries.net, a total of 223 public companies now hold Bitcoin, valued at $356 billion as of the time of writing.

Similarly, companies are adapting this playbook for other digital assets, such as Ripple's XRP. Energy-solutions firm VivoPower recently raised over $100 million to create an XRP-based treasury, while Wellgistics Health announced plans to add the asset to its reserves and enable payments with it.

The wave of interest in cryptocurrencies as reserve assets comes as digital asset trading continues to experience a resurgence, with Bitcoin trading just under $105,000, up 49% in the past year, and the overall cryptocurrency market capitalization increasing by nearly 12% over the past three months.

As the crypto market continues to gain momentum, it remains to be seen how more public companies will incorporate digital assets into their financial strategies in the months and years ahead.