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The planned investment is aimed at expanding the reach of Ripple's On-Demand Liquidity (ODL) service in Asia, which uses XRP for cross-border transactions. Ripple said Tranglo would play a "critical" role in supporting its existing ODL corridors, such as the Philippines, and introducing new ODL corridors in the Southeast Asian region.
"Southeast Asia's payments landscape is highly fragmented. Each country comes with its own unique process and payments infrastructure — the lack of a standard integration for regional cross-border payments currently requires expensive workarounds," said Ripple. "This partnership will see both companies combine their in-depth local expertise to address the challenges associated with cross-border payments."
https://www.theblockcrypto.com/linked/99793/ripple-acquire-40-stake-asian-payments-processor-tranglo
