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Ripple acquiring 40% stake in cross border payments hub Tranglo to expand ODL


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Coverage by Bloomberg: Crypto Firm Ripple to Take 40% Stake in Asia Payments Specialist

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Crypto firm Ripple Labs Inc. is planning to take a 40% stake in Asian cross-border payments specialist Tranglo.

Ripple said in a statement Tuesday that the tie-up will help meet demand for the use of its affiliated token XRP in transactions. The announcement comes about a week after Brooks Entwistle, a former executive at Goldman Sachs Group Inc. and Uber Technologies Inc., became Ripple’s managing director of Southeast Asia.

Entwistle said in an interview that Ripple is expanding into new markets in the region to meet “demand for cheaper, faster and more reliable cross-border payments with the use of crypto.”

Tranglo is based in Malaysia and has processed over 20 million transactions totaling $4 billion in value since its inception, according to Ripple.

Tranglo is used by Wise (new name for Transferwise) to make payouts to retail customers in Asia.

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1 hour ago, jbjnr said:

Quite possibly the best news we've had for a couple of years. Since the MoneyGram partnership ended and ODL dried up, there has been very little reason to expect xrp to rise in value and fulfill its potential (other than the usual speculation based on SEC news etc). A 40% stake in a payments company is a massive signal to the industry that Ripple has not given up its plans to push xrp forwards with ODL - and for those of us who expect ODL to drive value into xrp, it's a huge incentive to keep holding on for a bit longer.

Along with the Flare news, this sounds like just the sort of thing to get XRP moving.  To their credit Ripple have not let the SEC case deflect them from building out their ecosystem. 

I think XRP is now the most under rated under valued top ten crypto and it is well placed to make big strides in coming years. 

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Why do I keep getting the feeling that when smart contracts are brought to the XRP ledger via Flare we might hear the sonic boom of take off. When Flare takes off I don't think the SEC law suit will have much to stand on other than the past, coupled with information like this just helps the cause.  I just have a gut feeling and call me crazy that Flare will be the launching point for a higher XRP utilization and pricing. Smart Contracts and Instant settlement just go hand and hand and there is only one DA that will offer them both backed by a corporate presence so you don't have to call Ghost Busters if something goes wrong or your looking for accountability.

Edited by RikkiTikki_is_Back
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3 hours ago, Julian_Williams said:

and Africa?

Not yet, some countries will be growing but as a region not yet. In SE Asia we will see Indonesia, Philippines, Vietnam, possibly Thailand too, becoming real powerhouses. Obviously India too.

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1 minute ago, cmbartley said:

I still think that Ripple owns way too much XRP and that that remains an existential threat. That said, I agree with your read here. It was heartening to see them continuing to pursue their vision without hiding under a rock in light of the ongoing lawsuit.

FWIW - RL cannot just vote to funnel all the escrow zerps to stakeholders, or payout as dividends or something.

The lion's share of their original gifted stack is required to be used to support the growth and health of the XRP ecosystem (I'm paraphrasing, someone else here has posted the details). 

So by this measurement, the 50b being in RL's hands should be more beneficial than any other holder, no ? 

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46 minutes ago, cmbartley said:

I still think that Ripple owns way too much XRP and that that remains an existential threat. That said, I agree with your read here. It was heartening to see them continuing to pursue their vision without hiding under a rock in light of the ongoing lawsuit.

Agree. This is great news, but it does concern me that it's such a huge proportion of the XRP ecosystem in a few hands. I was hoping for news on the now-mythical "market making incentive" mechanism that was supposed to be an open (to all users/markets), fair, ungameable, XRPL-based distributed solution to XRP distribution while adding liquidity. 

Years later... still nothing. Maybe they wanted to keep it proprietary and private for now. Or maybe there are bugs to iron, or even missing pieces like Flare/stablecoins were required.

Edited by thinlyspread
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