Ripple joins hands with Tranglo to expand its RippleNet Services

Ripple in a recent statement announced that it will stake 40% in an Asian firm Tranglo. Tranglo is a firm that offers ODL (On-Demand Liquidity) services to users. Ripple wanted to expand its RippleNet’s ODL feature using XRPs. The only obstacle in this collaboration is getting approvals from regulators. The biggest investor behind Tranglo is the TNG Fintech Group, and it is also a majority shareholder.

This partnership is formed to combine Ripple’s ODL services, along with Tranglo’s payment facilities. It should be noted that Tranglo is known for offering cross-border cryptocurrency-based payment services. Tranglo offers its services across Malaysia, Indonesia, UAE, UK, etc.

With this collaboration, the concept of cross-platform will be faster, and smoother than before. When this collaboration will be successfully completed, Brooks Entwistle (Managing Director, Ripple Southeast Asia), and Amir Sarhangi (Vice President of Product and Delivery) will be the top members of the Board of Directors.

Aside from this news, Ripple’s name was in the headlines quite a few times. For example, its name was brought into the limelight due to the allegations brought against the company by USSEC (US Securities and Exchange Commission). However, this did not have any impact on Ripple’s business in Asia or around the world.