2024

<p>The post <a href="https://coinpedia.org/news/ripples-tranglo-partnership-sparks-debate-over-xrp-use-in-cross-border-payments/">Is XRP Used in Cross-Border Payments? Debate Erupts Over Tranglo Partnership</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple’s recent collaboration with Tranglo has set tongues wagging, igniting a passionate discussion about the role of XRP in cross-border transactions. The controversy gained momentum when Bill Morgan, a staunch advocate for XRP, stepped in to defend Tranglo’s use of the digital asset within Ripple’s On-Demand Liquidity (ODL) platform.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Hey <a href="https://twitter.com/FT?ref_src=twsrc%5Etfw">@FT</a> you should do a 6 year follow up on this story and see if you can find a single bank using <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> <a href="https://t.co/7ywtGyaTlr">https://t.co/7ywtGyaTlr</a></p>— 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 (aka. ScamDaddy𝕏) (@ScamDetective5) <a href="https://twitter.com/ScamDetective5/status/1767704361306640528?ref_src=twsrc%5Etfw">March 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-delving-into-the-debate-morgan-s-defense"><strong>Delving into the Debate: Morgan’s Defense</strong>&nbsp;</h2> 
<p>The saga began with a nod to a 2018 Financial Times report, suggesting a lack of XRP adoption by banks. However, Morgan swiftly countered this narrative, asserting that Tranglo indeed harnesses XRP’s power within Ripple’s ODL platform to facilitate cross-border payments.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Firstly I did not say 5000 banks use XRP. I said Tranglo uses XRP in ODL for cross border payments for its customers and its network involves 5000 banks. How many banks are involved in ODL was not stated by Tranglo.<br>Secondly, you did not prove that no banks in that network are… <a href="https://t.co/xWXjD1hwB0">https://t.co/xWXjD1hwB0</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1768026784304607268?ref_src=twsrc%5Etfw">March 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Pointing to Tranglo’s vast network of 5,000 banks, Morgan painted a picture of XRP’s seamless integration into their operational framework.</p> 
<p><strong>Ripple’s ODL Without XRP?</strong></p> 
<p>Despite Morgan’s claims, skeptics emerged, questioning the accuracy of Tranglo’s purported use of XRP. Critics pointed out that Ripple’s ODL system doesn’t invariably rely on XRP for transactions, casting doubt on the necessity of the digital asset in Tranglo’s operations.</p> 
<h2 class="wp-block-heading" id="h-seeking-clarity">Seeking Clarity</h2> 
<p>The discussion took a turn when a user mentioned a 2022 SEC filing by Tranglo’s parent company that didn’t mention XRP. This made people wonder how much XRP was used by Tranglo.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I posted information from Tranglo. I never made any conclusion either way about any bank connected to Tranglo using ODL or XRP. It was a tactic to motivate you to show your best evidence that no bank uses XRP. If what you showed is your best evidence it is quite weak. It does not… <a href="https://t.co/mvlAeYR1Md">https://t.co/mvlAeYR1Md</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1768056931368009983?ref_src=twsrc%5Etfw">March 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>But Morgan didn’t think this was enough proof, saying we need clearer evidence to show if XRP is missing from Tranglo’s transactions.</p> 
<h2 class="wp-block-heading" id="h-tranglo-s-strategic-european-expansion">Tranglo’s Strategic European Expansion</h2> 
<p>Amidst the heated debate, Tranglo expanded its footprint in Europe through a strategic collaboration with Inpay. The <a href="https://coinpedia.org/news/ripple-tanglo-and-sbi-remit-join-forces-to-improve-xrp-cross-border-payments/">partnership aims to bolster</a> Tranglo’s European presence by leveraging the Instant Single Euro Payments Area (SEPA), facilitating seamless cross-border transactions.</p> 
<p>With an <a href="https://tranglo.com/press/tranglo-launches-instant-sepa-payout-to-europe/">initial focus</a> on 12 SEPA countries, Tranglo anticipates broader expansion across 24 additional European regions. This ambitious endeavor underscores Inpay’s global expansion strategy for 2024, with a particular emphasis on penetrating the Asian market.</p> 
<p>The ongoing debate highlights the complexities surrounding XRP’s adoption and Ripple’s partnership dynamics, fueling speculation within the cryptocurrency community.</p>

Is XRP Used in Cross-Border Payments? Debate Erupts Over Tranglo Partnership

Table of Contents

CoinPedia News

Other articles published on Mar 14, 2024

Ethereum Advances with Dencun Update Lowering Layer 2 Transaction Costs

Binance Executives Detained Amid Nigeria’s $26B FX Crisis: Court Hearing Set on March 20

Crypto Market Prediction: What’s Next After Bitcoin’s Record High?

Solana to face 17% to 28% price correction, analyst warns

Pyth Price Feeds Are Now Live on Injective inEVM

Solana To Dive Below $127, Analyst Predicts As SOL Price Rallies

Join our free newsletter for daily crypto updates!