XRP reserve company Webus secured a $100 million credit line financing from Ripple Strategy

According to Foresight News, China's customized ride hailing service platform Webus announced that it has signed a conditional securities purchase agreement with Ripple Strategy Holdings, obtaining up to $100 million in preferred equity credit line. After the registration statement of the US Securities and Exchange Commission (SEC) takes effect and the consent of the company's existing underwriters is obtained, the $100 million commitment will be disbursed by the company within 24 months at its own discretion, with each withdrawal amount ranging from $250000 to $3 million, depending on market conditions and capital requirements. Foresight News previously announced that Webus International plans to raise up to $300 million through non equity financing to establish XRP reserves for a global specialized car payment network.