It looks like the much speculated about Tencent’s investing in Ripple might turn out to be just a speculation after all. According to sources at Tencent, it seems, as of now, Tencent has no relevant investment plans for Ripple. The official response said that the news is not true. All a bit too vague for us but we are listening.
AMBCrypto has reached out to the Tencent team but could not independently verify this news. The link to the news was from a Chinese site – https://view.inews.qq.com/a/TEC2018031601829904
The article was initially found from a tweet by a journalist, Lulu Yilun Chen, who tweeted:
Lulu Yilun Chen’s tweet
A few days ago the grapevine informed us that Tencent is planning to invest in Ripple. According to multiple sources, the speculation was that the Chinese tech giant was looking to invest upwards of 2 billion dollars in Ripple [XRP], which would have meant buying major stakes in Ripple [XRP]. Tencent already boasts stakes in popular companies such as Tesla, Snapchat and Spotify.
The Ripple community had a mixed reaction to this news. Huong Bao, a Ripple investor says,
“Whales just spreading rumors feels like. Drop it till you can, buy cheap then pay some more and hype up the prices. Tencent just hasn’t confirmed anything yet. Doesn’t mean its not true”
Kevin Smith, head of operations at Metero says,
“XRP folks are just blinded by their lust for XRP to hit 5 dollars. Peeps need to understand that there is xcurrent, xvia and xrapid, all are different. When you hear a ‘ripple partners with….’ please read about what the partnership is for”
A reddit user replying to the “Tencent Partnership’ topic said,
A reddit user warning forum members not to believe the “Tencent Partnership” news without confirmation from the correct sources.
Many argue that the idea behind Tencent partnership would have been to beat the competition on mobile payments by integrating Ripple technology into its messaging app Wechat.
Andre Jones thinks,
“The possible relationship between Ripple and WeChat has been speculated before, but I think people didn’t give enough attention to the evidences. I strongly believe that WeChat Pay is using Ripple technology and might eventually use XRP to settle cross-border payments.”
Another user on Reddit had a unique advantage in mind if this deal goes through,
“Well, I will be able to pay my Tencent Games skins with XRP. Looking at you League of Legends.”
The rumors are far from being put to rest if anything we are more convinced than ever that there is something brewing. Once we hear back from Tencent, we would publish an update or release a new article around this.
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