Controversy Arises Over Tranglo Collaboration: Is XRP Utilized for Cross-Border Transactions?

Ripple’s partnership with Tranglo has sparked a lively discussion about the use of XRP in cross-border transactions. Bill Morgan, a strong supporter of XRP, defended Tranglo’s integration of the digital asset into Ripple’s On-Demand Liquidity (ODL) platform.

Morgan responded to a 2018 Financial Times report that suggested a lack of XRP adoption by banks. He clarified that while he didn’t claim that 5,000 banks use XRP, Tranglo does utilize XRP in the ODL platform for cross-border payments. He emphasized the extensive network of 5,000 banks that Tranglo operates with, illustrating XRP’s seamless integration into their operations.

However, skeptics questioned the accuracy of Tranglo’s use of XRP, pointing out that Ripple’s ODL system doesn’t always require XRP for transactions. This raised doubts about the necessity of the digital asset in Tranglo’s operations.

To seek clarity, a user mentioned a 2022 SEC filing by Tranglo’s parent company that didn’t mention XRP, prompting further speculation about the extent of XRP’s usage.

Amidst the debate, Tranglo expanded its presence in Europe through a strategic collaboration with Inpay. The partnership aims to enhance Tranglo’s European footprint by utilizing the Instant Single Euro Payments Area (SEPA) to facilitate seamless cross-border transactions.

Initially focusing on 12 SEPA countries, Tranglo plans to expand further into 24 additional European regions. This collaboration aligns with Inpay’s global expansion strategy for 2024, with a particular emphasis on entering the Asian market.

The ongoing discussion surrounding XRP’s adoption and Ripple’s partnership dynamics highlights the complexities and fuels speculation within the cryptocurrency community.