Malaysian cross -border payment providers, Tranglo and Ripple are rumored to have teamed up in an effort to introduce fast and cheap cross -border payments using XRP, involving Asia and the Middle East.
The collaboration was announced through an official post on the Tranglo blog yesterday.
It is understood Tranglo has launched an On-Demand Liquidity (ODL) service on RippleNet, and plans to introduce more payment channels in the future.
For information, Ripple also acquired a 40% stake in Tranglo in March as part of the plan’s expansion across Southeast Asia.
Ripple’s payments business saw strong growth, especially in Asia with a record transaction increase of 130% year -on -year (YOY).
The details are as follows:
This week - Al Ansari Exchange, located in the United Arab Emirates (UAE) chose RippleNet Cloud to provide same -day remittances to Malaysia, with support from money transfer technology company, MoneyMatch.
October 12 - Ripple and Nelnet Renewable Energy make a joint investment into the Nelnet solar energy investment fund.
October 7 - Ripple integrates with Qatar National Bank (QNB) for the purpose of improving cross -border payments and the launch of its latest remittance platform.
September - Ripple joins Bhutan for central bank digital currency (CBDC) testing.
August - South Korean money transfer company, Global Money Express Co. Ltd (GME Remittance) joined RippleNet to further expand bilateral payments involving South Korea and Thailand.
