Key Takeaways
- Webus plans to introduce XRP payments for Air China’s PhoenixMiles loyalty members via Wetour.
- The integration aims to offer faster settlement, tokenized rewards, and blockchain-enabled vouchers for travelers.
Nasdaq-listed Webus International Limited has formed a strategic partnership with Air China Limited, one of China’s three major state-owned airlines, to offer airport transfers and premium chauffeur services to PhoenixMiles members worldwide through its Wetour travel service brand, according to a recent announcement.
The company, which recently secured up to $100 million in funding through a senior equity line of credit to support its XRP treasury strategy, also plans to integrate XRP payments into Wetour’s overseas platform.
The integration would enable travelers to access faster settlement, tokenized rewards, and blockchain-enabled vouchers linked to their membership benefits, subject to regulatory compliance, the company stated.
Air China’s PhoenixMiles is the airline’s frequent flyer loyalty program, with over 60 million members worldwide. Members can earn and redeem miles across Air China, its affiliated carriers, and Star Alliance partners for flights, upgrades, and other travel benefits.
In June, Webus submitted a filing with the US SEC, paving the way for a potential $300 million investment in an XRP treasury to enhance its global payment solutions. The company intends to use cash, bank loans, and credit facilities for funding to advance its plan.
Webus’ XRP-focused strategy also includes crypto-enabled payments and blockchain loyalty programs.
Source: https://cryptobriefing.com/xrp-payments-air-china/
