Regardless, Ripple Continues to Grow: The Latest Partnership Made a Sound!
Regardless, it seems like Ripple doesn’t allow anything to hold back its growth and expansion. According to the statements made, Ripple plans to buy a 40% stake in Asian cross-border payments specialist Tranglo.
Ripple Doesn’t Give Up in Asia
Despite Ripple’s current litigation issues with the US Securities and Exchange Commission over the XRP token, the Blockchain payment provider continues to implement growth plans in the Southeast Asian market. Under these plans, Ripple announced that it has plans to buy a 40% stake in Tranglo, one of Asia’s largest payment companies.
With offices in Kuala Lumpur, Jakarta, Dubai and London, Tranglo is a company that supports commercial payments, payment collections, money transfers and mobile uploads.
The partnership with Tranglo will allow Ripple to serve the growing demand for cross-border payments in the region and expand the reach of ODL services. The XRP used in ODL acts as a bridge currency between two traditional currencies to instantly send money and reduce working capital needs.
Details of the Trangola Partnership
According to Ripple ‘s announcement, Tranglo will continue to play a critical role in supporting existing payment corridors in the region and will make new ODL corridors available to users in its existing network. The partnership also means that Ripplenet customers using ODL can leverage Ripple’s credit line to launch working capital and scale cross-border payments in more markets than ever before.
RippleNet’s general manager Asheesh Birla said, “Tranglo’s robust payment infrastructure makes them an ideal partner to support the growth of ODL, starting in the Southeast Asia region. We are excited to continue and execute our joint mission to make cross-border transactions faster, cheaper and more secure with blockchain technology and digital assets. ”He used his words.