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 government, making this move.
In fact, China has recently doubled down on its crypto crackdown. Reports suggest a new ban that even targets individual crypto ownership, not just trading or mining. The government is focused on promoting its own central bank digital currency (CBDC) — the digital yuan.
The confusion comes from mixing up two different stories. One is about a Chinese company, Webus, using XRP and raising $300 million to grow its international business. The other is about China’s government, which is actually banning crypto, not buying it. Since both stories involve China and XRP, some people wrongly assumed the government was behind the XRP purchase. However, that’s not true.
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