Ripple’s Tranglo Stake Sale: What’s Next for XRP Holders?
Ripple’s recent decision to sell its 40% stake in Tranglo has sparked a wave of discussions within the XRP community. This move comes as a surprise following their past collaboration with Tranglo in facilitating cross-border transactions. The implications of this sale are unclear, leaving many wondering about Ripple’s future strategy and the role of XRP in international payments.
Why Did Ripple Exit Tranglo?
Crypto Eri’s revelation about Ripple’s exit from Tranglo and Bitstamp on Crunchbase has raised questions about the motives behind these decisions. While Ripple’s departure from Bitstamp was due to the exchange’s acquisition by Robinhood, the reasons for exiting Tranglo remain unknown. Tranglo played a crucial role in utilizing XRP for cross-border payments, making this move puzzling for many.
Community Reactions
Reactions from the XRP community have been mixed following news of Ripple’s stake sale in Tranglo. Some users have criticized the move, suggesting that it could tarnish the reputation of both Ripple and Tranglo. However, others have pointed out that Crunchbase’s listing of Tranglo as an exit might be inaccurate, as the company is still privately held. This discrepancy has fueled speculation and debate within the community.
Clearing the Clouds
Eri provided clarification on Tranglo’s ownership, revealing that it is held by Seamless Group Inc., which is in the process of going public through a SPAC called INFINT Corp. Despite this ongoing transition, the specifics of Ripple’s departure from Tranglo remain shrouded in uncertainty. Additionally, Cowen’s sale of its stake in INFINT Corp adds further complexity to the situation, leaving unanswered questions about Ripple’s exit strategy.
Historical Context of the Ripple-Tranglo Partnership
In 2021, Ripple acquired a significant stake in Tranglo as part of its efforts to expand RippleNet and its ODL service, now known as Ripple Payments. This partnership played a pivotal role in integrating XRP into Tranglo’s payment infrastructure, resulting in a substantial increase in transaction volumes. By 2022, Tranglo had processed nearly $1 billion through Ripple’s ODL service, showcasing the success of their collaboration.
What’s Next for Ripple and Tranglo?
Ripple has yet to disclose the reasons behind its decision to divest from Tranglo, leaving many uncertainties regarding the future of their partnership. XRP holders are left wondering about the implications of this move on Ripple’s strategic direction and the broader adoption of XRP in cross-border transactions.
The Bigger Picture
Ripple’s exit from Tranglo underscores the complexities of crypto partnerships and investments in the evolving digital landscape. While the motivations behind this move remain speculative, it reflects the dynamic nature of the cryptocurrency industry. Investors and stakeholders will need to monitor developments from Ripple and Tranglo to gain insights into the shifting dynamics of the market.
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