This initiative aims to integrate XRP blockchain technology into its operations for global payment solutions, while also renewing its partnership with Tongcheng Travel Holdings Ltd., one of China’s leading online travel platforms.
The plan outlines three key initiatives: establishing an XRP reserve to facilitate instant and low-cost cross-border settlements, developing a comprehensive blockchain infrastructure that includes wallets and Web3 loyalty tokens, and accelerating the company’s global expansion efforts.
This collaboration will extend the “Wetour × Tongcheng” inter-city charter services, capitalizing on Tongcheng’s impressive user base of 240 million annual paying customers to bolster Webus’s domestic network.
In light of recent challenges, including a notable 54% revenue decline to $5.35 million over the past year, the financing plan represents a crucial step for Webus.
These strategic initiatives have the potential to create a powerful synergy between our domestic and international operations. Our partnership with Tongcheng strengthens our China network infrastructure, while the integration of an XRP blockchain integration has the potential to revolutionize how we handle cross-border payments for both partners and travelers worldwide.
The partnership with Tongcheng not only provides major reach across China’s mobility landscape but also positions the company to eliminate traditional payment barriers through potential XRP implementation. This would enable seamless transactions with chauffeurs and service providers, creating a truly borderless travel experience for customers.
Despite this significant move, the XRP price has not reacted positively with the token’s valuation standing at $2.21. On a weekly basis, the token registers a major 10% retrace, while also dropping over 3% in the 24-hour time frame.
Featured image from DALL-E, chart from TradingView.com
