Ripple’s past collaboration with Tranglo has set tongues wagging, igniting a passionate discussion about the role of XRP in cross-border transactions. However, in a shocking move, Ripple has reportedly sold its 40% stake in Tranglo, a Malaysian payment firm that used XRP to streamline international transactions. This news, first highlighted by Crypto Eri on X, has stirred a wide controversy within the XRP community. Advertisement

Why Did Ripple Exit Tranglo? Crypto Eri brought attention to the fact that Ripple’s investment portfolio on Crunchbase now shows an exit from both Bitstamp and Tranglo. While Ripple’s exit from Bitstamp is linked to the exchange’s acquisition by Robinhood, the reason behind the Tranglo exit remains unclear. Tranglo was a key partner for Ripple, using XRP to facilitate cross-border payments. Community Reactions  The XRP community got some mixed views on this exit. Some users commented negatively and called Eri’s post to create a FUD and meant to tarnish Ripple and Tanglo’s reputation. But Critics point out that Crunchbase’s “exits” typically denote public listings, which is not the case for Tranglo as it remains a private company. They argue that the information on Crunchbase might be inaccurate or misleading. Clearing the Clouds Moving ahead, Eri clarified that Tranglo is owned by Seamless Group Inc., which has been working to go public via a Special Purpose Acquisition Corporation (SPAC) named INFINT Corp. Since 2022, INFINT has been attempting to finalize the public listing process. Eri also noted that Cowen, a partner of Polysign, sold its stake in INFINT Corp. This adds to the uncertainty surrounding Ripple’s exit from Tranglo. Historical Context of the Ripple-Tranglo Partnership Ripple acquired a 40% stake in Tranglo in 2021 as part of its strategy to expand RippleNet and its On-Demand Liquidity (ODL) service, which was rebranded as Ripple Payments. This partnership was instrumental in integrating XRP into Tranglo’s payment routes, resulting in a significant increase in transaction volumes. In 2022, Tranglo processed $970 million through Ripple’s ODL service, a dramatic increase from $53 million in the previous period. What’s Next for Ripple and Tranglo? As of now, Ripple has not commented on the reasons for its exit from Tranglo. The community is left with questions about the future of the partnership and what this move signifies for Ripple’s strategy and the use of XRP in cross-border payments. The Bigger Picture Ripple’s exit from Tranglo highlights the complex nature of cryptocurrency partnerships and investments. While the reasons for this decision remain speculative, it reflects ongoing changes and challenges within the crypto industry. Investors and observers will need to stay tuned for more information from Ripple and updates on Tranglo’s prospects. Overall, Ripple’s sale of its Tranglo raises questions about the company’s future direction and its ongoing role in the crypto market. What do you think? Tell us.

Tags Ripple (XRP)