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.
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Ripple to acquire 40% stake in Asian payments processor Tranglo
"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."
