Crypto community has reported that Ripple has sold its stake in payment company Tranglo
Tranglo uses Ripple’s XRP token and On-Demand Liquidity (ODL) service to make international payments
17.07.2024 - 11:15
250
3 min
0
What’s new? Fintech company Ripple, which developed the $34 billion XRP token and payment protocol of the same name, has sold its 40% stake in Malaysian payment company Tranglo. A prominent member of the XRP community under the nickname Crypto Eri announced in his X account. Tranglo uses the XRP token and Ripple’s On-Demand Liquidity (ODL) service for international payments.
What else is known? Tranglo was part of Ripple’s strategy to expand global transactions using XRP. With the ODL service, Tranglo provides faster and cheaper international transactions.
Another member of the XRP community under the nickname WrathofKahneman, citing documentation, reported that one of the Ripple employees who worked at Tranglo has returned to Ripple, this could also indicate a stake sale and exit from the company.
In his opinion, this deal will significantly impact XRP, as Tranglo remains among the official users of Ripple Payments. Moreover, the cash infusion could help the company expand its business and use of the token.
The user also clarified that Tranglo is owned by Seamless Group (formerly TNG Fintech). Ripple began partnering with Seamless in 2021, but the latter later announced a merger with InFinT Acquisition Corporation to go public in the US via a SPAC deal. Meanwhile, the initial filing for the US Securities and Exchange Commission (SEC) was overdue and was resubmitted in April this year.
Ripple CEO allows the possibility of Biden’s election loss due to the SEC chair’s actions
Brad Garlinghouse criticized the official for failing to regulate the crypto industry
Earlier this year, Ripple sold its stake in crypto exchange Bitstamp to online broker Robinhood. The stake was purchased by Ripple from crypto hedge fund Pantera Capital in May last year.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$91 728
BTC
+1.5%
-
Ethereum
$3 132.23
ETH
+0.31%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.15
XRP
+6.99%
-
Dogecoin
$0.376568
DOGE
+5.93%
-
Cardano
$0.759557
ADA
+5.16%
-
Bitcoin Cash
$452.88
BCH
+0.74%
-
Polkadot
$5.89
DOT
+3.38%
-
Litecoin
$92.81
LTC
+2.21%
-
Stellar XLM
$0.231179
XLM
+14.22%