Tranglo is an investment partner of Ripple
Tranglo, a Ripple investment partner, has announced the introduction of “Tranglo Business,” an all-in-one business payment solution that enables companies to make and receive worldwide payments more rapidly and efficiently.
Later, Tranglo said it was partnering with Ripple to leverage the latter’s on-demand liquidity (ODL) technology across its 25 payment corridors, which would enable financial institutions to manage real-time cross-border payments without the need to prefund.
Ripple’s ODL makes use of the digital currency XRP to act as a bridge between the two currencies, and it operates on Ripple’s worldwide financial network, RippleNet, to do this.
By removing the need to prefund destination accounts, users may save money on operating expenses and free up funds.
Ripple has a stake In Tranglo
Ripple acquired a 40 percent stake in Tranglo last year, elevating the company to the ranks of the world’s leading producers of enterprise blockchain solutions for cross-border payment processing.
It was Tranglo’s ODL pilot, which started in September 2021 and resulted in 250,000 transactions totalling $48 million in the first 100 days, that laid the groundwork for the company’s decision to make the switch.
Tranglo is a cross-border payment gateway with offices in Kuala Lumpur, Singapore, Jakarta, Dubai, and London. The company was created in 2008 and has operations in a number of countries.
Over 100 countries are served by the company’s worldwide network, which includes 2,500 mobile operators, 1,300 banks/wallets, and 130,000 cash collecting locations.