- Ripple has partnered with Tranglo.
- Under the partnership, Ripple has acquired a 40% stake in Tranglo.
- Ripple will use the 40% stake to expand its RippleNet ODL services in Asia.
Ripple has announced its partnership with the Asian online payment specialist Tranglo. Through this collaboration, Ripple has acquired more than 40% stake in Tranglo.
According to Ripple, it will use the said amount to increase exposure and expand RippleNet’s On-Demand Liquidity (ODL) services in Asia. As a result, this will help Ripple to boost its P2P crypto services in terms of cross-border transactions.
Furthermore, once Ripple starts the ODL services, XRP will mainly function as a core bridge between fiat and cryptocurrencies in terms of payment. Consequently, this will minimize transaction risks and working capital needs.
Best of all, Ripplenet holders who are using ODL will get access to use Ripple’s line of credit without hassle. Above all, using the line of credit will enable its users to make cross-border payments in different markets effortlessly.
RippleNet General Manager Asheesh Birla said:
Tranglo’s robust payments infrastructure makes them an ideal partner to support our expansion of On-Demand liquidity starting with the Southeast Asia region. We are excited to continue and carry out our shared mission to transform cross-border transactions to be faster, cheaper, and more secure with blockchain technology and digital assets.
Moreover, despite the unregistered security tokens allegations with the US SEC, Ripple continues to expand its technology to the world. For this reason, many people around the world can seamlessly access cross-border transactions seamlessly.