The Ripple-Tranglo Partnership Debate Unveiled
As a crypto enthusiast, you may have come across the recent controversy surrounding Ripple’s partnership with Tranglo and the utilization of XRP in cross-border transactions. This debate sparked intense discussions within the crypto community, especially after Bill Morgan, a prominent XRP advocate, defended Tranglo’s use of XRP, stating that it is an integral part of Ripple’s On-Demand Liquidity (ODL) platform.
Controversy Over Tranglo’s XRP Usage
The debate originated from a reference to a 2018 Financial Times report, claiming that banks were not using XRP at that time. However, Bill Morgan refuted this claim by asserting that Tranglo incorporates XRP within Ripple’s ODL platform to facilitate cross-border payments. Morgan highlighted Tranglo’s expansive network of 5,000 banks as evidence of XRP integration.
Despite Morgan’s defense, skepticism arose among some community members regarding the accuracy of his claims about Tranglo’s XRP usage, as critics pointed out that Ripple’s ODL system does not always require XRP for transactions.
Throughout the debate, Morgan continued to support Tranglo’s position by presenting diagrams that illustrated Ripple’s involvement in ODL transactions as potential proof of XRP utilization.
SEC Filing Raises Doubts
The discussion took an unexpected turn when a user mentioned a 2022 SEC filing by Tranglo’s parent company that did not mention XRP. This raised questions about the extent to which XRP was actually being utilized by Tranglo in its operations.
In response to this, Morgan expressed his belief that clearer evidence is needed to determine whether XRP is indeed absent from Tranglo’s transactions, dismissing the SEC filing as insufficient proof.
Tranglo’s European Expansion
Amidst the ongoing debate, Tranglo made significant strides in expanding its presence in Europe by forging a strategic partnership with Inpay. This collaboration aims to bolster Tranglo’s presence in Europe by leveraging the Instant Single Euro Payments Area (SEPA) system to facilitate seamless cross-border transactions.
Initially focusing on 12 SEPA countries, Tranglo plans to expand further into an additional 24 European regions. This ambitious expansion aligns with Inpay’s global strategy for 2024, particularly focusing on penetrating the Asian market.
The discussions surrounding XRP’s adoption and Ripple’s partnership dynamics have created speculation and interest within the cryptocurrency community, underscoring the complexities involved in such collaborations.
Hot Take: The Ripple-Tranglo Partnership Sparks Speculation
As a crypto investor, staying informed about the controversies and debates within the crypto space is crucial. The ongoing discussion about Ripple’s partnership with Tranglo offers valuable insights into the complexities of XRP’s adoption and its integration into cross-border transactions. Keep a close eye on developments in this area to make informed decisions about your crypto investments.
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