Ripple Labs has reportedly divested its stake in Tranglo, a Malaysia-based payments company that uses XRP for international transactions. The development was first reported Highlighted Written by Crypto Eri, a prominent member of the XRP community, in a post on X from Monday, citing updates from Crunchbase.
Why did Ripple and Tranglo split?
The latest Crunchbase records indicate that Ripple has exited investments in both Bitstamp and Tranglo. While the company’s exit from Bitstamp appears to be consistent with Robinhood’s acquisition of Bitstamp, the divestment from Tranglo comes unexpectedly.
Tranglo has been an integral part of Ripple’s strategy to enhance global financial transactions using XRP. By leveraging its On-Demand Liquidity (ODL) service, Tranglo facilitates faster and cheaper international transactions. Ripple’s investment, which amounts to a 40% ownership, underscores a deep commitment to integrating XRP into global payment corridors.
Crypto Eri stated, “Crunchbase has updated its Ripple investment exits. Bitstamp’s exit may have been due to the Robinhood acquisition, but it’s surprising to see Tranglo, where Ripple owns a 40% stake in the cross-border payments company that uses XRP (ODL). Further confirmation is recommended.”
The unexpected move has raised questions within the XRP community. @ADingoAteMyXRP pointed out a possible discrepancy, “Exiting on Crunchbase is when a company you invested in goes public. But this page is incorrect – Tranglo is a private company.” Meanwhile, Wrathof Kahneman, another popular researcher within the XRP community, noted the lack of verified sources for this information, adding to the confusion. “Strange. Crunchbase is the only place I can find that mentions this. I wonder if it’s just a bug?” Kahneman said.
Digging deeper into the matter, Crypto Eri explained, “Tranglo is owned by Seamless Group Inc. They have been trying to go public via a SPAC (Infint Corp) with several starts and stops since 2022. Infint updated their S-4 in April 2024 (Tranglo is mentioned 712 times, Ripple is mentioned 256 times). I can’t find where this deal ended. I did find, on a different but related fact, that Cowen, a strategic partner of Polysign/Standard, sold 10% of his shares in Infint Corp. The whole thing requires further research.”
Further research by Kahneman open TNG Fintech, now known as Seamless Group, partnered with Ripple in 2021 and later announced its merger with InFinT Acquisition Corporation to become a publicly listed company. While the initial filings appeared to have ended, recent extensions suggest the deal may still be in the works. This could explain the company’s decision to divest its stake.
“Did Ripple divest from its investment in Tranglo? It seems so. Here are the documents related to the Tranglo employee who returned to Ripple,” Kahneman speculated. Regarding the implications for XRP, he added: “What does this mean for (…) XRP? Not much. Tranglo is still a prominent user of Ripple payments. Hopefully, the infusion of funds will enable the company to grow and therefore use XRP.”
Reactions among XRP community members were mixed. @HadleyHopelv426, who reflects part of the community, sees the news as “another failure for Brad (Garlinghouse) and the gang.” Others like Kahneman see the potential financial gains for the crypto company as potentially fueling further growth and usage of XRP.
At the time of publishing this report, XRP was trading at $0.54576.
Featured image by Shutterstock, chart by TradingView.com
