Ripple Acquiring Stakes in the Cross-Border Payment Firm Tranglo

Ripple is a cryptocurrency giant featuring itself as an altcoin after Ethereum has bought a few stakes in a cross-border payment firm known as Tranglo. The percentage of the stakes is about 40%, and it will help Ripple with their ODL expansion in Southeast Asia. This comes as a push that Ripple is making to expand its operations in Asia and targeting other world economies after successfully initiating its operation in the USA and Europe. This move comes as a practice by Ripple to increase its interaction with the Southeast Asian markets and expanding its on-demand liquidity that uses the XRP cryptocurrency. 

However, these moves need validation and regulatory approval from another financial firm that has the largest stakes in the Tranglo, known as the TNG Fintech group, but all the paperwork is in order, and the move is going to get official in a few days or weeks tops.

Subtle Payment Infrastructure will Help Ripple in its ODL Expansion

The subtle infrastructure that is provided by the Tranglo financial firm will surely help in the expansion of the ODL related transactions and projects on which Ripple wants to expand on. This is a new initiative that Ripple wants to work on and see what good comes out of it. If you didn’t know about Tranglo, then here are a few facts that you should know about; it was founded back in 2008 and is a cross-border payment processing and recording center which favors all kinds of payments going about including mobile payments, business transactions, and even the mobile top-ups, this app provides access to all sorts of payment solutions, and it does support cryptocurrency too.    

This new acquisition that is in effect by Ripple will allow for faster, convenient, and cheaper payments across the border, says the top representatives of Ripple, and other than that, it will help in securing these payments while authenticating each and everyone for an extra layer of encryption and therefore customers’ trust. However, despite all that, the SEC lawsuit is still going on in the USA, and Ripple is not completely clear in the said territory regarding crypto trading of any kind. But in Asia, the cryptocurrency doesn’t face any such limitations, and therefore it is perfectly safe to work with and thus is expanding at a fair rate over there.  

Leave a Reply

Your email address will not be published.


ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]

Crypto Investors Suffer from Lingering Fears

The Situation at Hand The drastic drop and decline that befell the digital asset market last few weeks have left a mark on the users and investors of crypto, with crypto coins and other assets experiencing their lowest of lows and even stablecoins being affected, it’s no surprise that both old and new investor is […]