China to Buy $300 Million XRP for Crypto Reserve: Fact Check
A viral claim is making rounds on social media that China is planning to buy up to $300 million worth of XRP to build a “strategic crypto reserve” and compete with the U.S. The claims are totally misleading, and it is not true.
These speculations came after Webus International Limited, a Hangzhou-based corporation, recently announced that it will offer luxury AI-driven chauffeur services and is currently trying to grow internationally. As part of that move, Webus will raise $300 million in XRP with non-equity financing such as bank loans and institutional credit.
The goal is to support international travel services and integrate XRP for fast, low-cost global payments. So yes, XRP is involved, but it’s the company, not the Chinese…
