Ripple’s Bold Move: Ripple Offloads Massive 40% Share in Tranglo – What’s Happening?
Ripple’s recent divestment from its 40% stake in Tranglo has sparked significant discussion within the XRP community. This move comes after Ripple’s previous collaboration with Tranglo, a Malaysian payment firm that utilized XRP for cross-border transactions. The exact reasons behind Ripple’s exit from Tranglo remain unclear, and the community is eager to understand the implications for Ripple’s strategy and the future use of XRP in international payments.
Ripple Investment
Notably, Ripple’s investment portfolio on Crunchbase now reflects exits from both Bitstamp and Tranglo. While Bitstamp’s exit is linked to its acquisition by Robinhood, the rationale behind the Tranglo exit remains ambiguous.
It’s worth mentioning that Tranglo is part of the Seamless Group Inc., which is pursuing a public listing via a Special Purpose Acquisition Corporation (SPAC) called INFINT Corp. Cowen, a partner of Polysign, has also divested its stake in INFINT Corp, adding to the uncertainty surrounding Ripple’s exit from Tranglo.
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Historical Perspective About the Partnership
The historical context of the Ripple-Tranglo partnership reveals that Ripple acquired a 40% stake in Tranglo in 2021 to bolster RippleNet and its On-Demand Liquidity (ODL) service, rebranded as Ripple Payments. This collaboration led to the integration of XRP into Tranglo’s payment routes, resulting in a substantial surge in transaction volumes. In 2022, Tranglo processed $970 million through Ripple’s ODL service, marking a significant increase from $53 million in the previous period.
Responses and Reaction From the Community
The reaction within the XRP community has been mixed, with some expressing concerns about the potential implications of Ripple’s exit from Tranglo. Critics have pointed out discrepancies in Crunchbase’s “exits,” noting that they typically refer to public listings, which is not applicable to Tranglo as it remains a private company. This discrepancy has led to debates about the accuracy and relevance of the information on Crunchbase.
Is XRP Exiting Tranglo?
While Ripple has not officially commented on the reasons for its exit from Tranglo, this development sheds light on the intricate nature of cryptocurrency partnerships and investments.
As the crypto industry continues to evolve, investors and industry observers are eagerly awaiting further updates from Ripple and insights into Tranglo’s future prospects.
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