16 March, AtoZ Markets – Numerous online reports claim that recent speculation about Tencent’s investment in Ripple might end up being the speculation in reality. According to the Tencent, the company has no upcoming plans for the collaboration and investment in Ripple. Some of the online reports quote the officials of Tencent denying the news.
Is China's Tencent Ripple Partnership news true?
Initially, the news about Tencent denying the upcoming Ripple investment came from China. The Chinese website view.inews.qq.com appeared to be the first to bring the news to the public. The tweet from journalist Lulu Yilun Chen, stated the following:
“ PR just denied the company has any interest to invest in #Ripple. So much for the 2 min hype.”
Just some days ago market was speculating that Tencent is planning to invest in Ripple. It is known that the speculation was about the Chinese tech company considering the investment of up to 2 billion dollars in Ripple. The rumours also mentioned that Tencent would buy major stakes in Ripple. In fact, this Chinese tech giant already holds stakes in popular companies like Tesla, Snapchat and Spotify.
The community of Ripple investors have shared a mix of reactions in regards to this news. Some of the investors suspected that the market has been manipulated in order to lower the prices and then buy the XRP by so-called market “whales.” Other suggested that it is important to pay attention to the news’ details:
“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”
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Tencent Looks into utilizing Ripple for Wechat?
In addition, on the popular forum reddit, users seem to warn each other not to believe “Tencent Partnership” news without any official confirmation from the company representatives. Some of the users argue that the idea behind the investment would have been to combat the competition on mobile payments by utilizing Ripple technology into its messaging application Wechat.
As of the moment, the market is still buzzing about the Tencent Ripple Partnership news. However, we are still waiting for the official confirmation from the Tencent.
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