Ripple’s Partnership With Trianglo Processed Over $1 Billion In ODL Transactions
- In 2021, Ripple bought 40% of Tranglo.
- This collaboration enables the firm to fulfill rising demand in Asia Pacific and expand its ODL service.
- As a result, Tranglo has increased business in critical corridors, processing more than $1 billion in ODL transactions.
Tranglo, a global cross-border payment processing center that also serves as Ripple’s payment partner, has exceeded $1 billion in On-Demand Liquidity (ODL) transactions for the first time since the service’s inception.
In 2021, Ripple, the premier supplier of corporate blockchain solutions for global payments, will purchase 40% of Tranglo. This collaboration enables Ripple to fulfill rising demand in Asia Pacific and expand its ODL service.
Tranglo has increased business in critical corridors, processing more than $1 billion in ODL transactions since ODL’s inception. Credit facilities and double network reach are two benefits of this collaboration.
This comes on the heels of a successful trial ODL deployment in September 2021, which saw 250,000 transactions totaling $48 million completed in the first 100 days.
As the blockchain company expands its ODL footprint in the Asian market, current RippleNet clients may use Ripple’s Line of Credit to free up operating cash while growing cross-border payments into additional areas.
The alliance sought to assist the Brad Garlinghouse business in satisfying the expanding client demand in the Asian market when Ripple purchased a share in the Asian fintech firm.
It was also a way to expand the ODL’s services into new countries, boosting the XRP coin, which the ODL uses for quick payment settlement. Tranglo is well-known in the industry for its quick and effective cross-border payment services.
Ripple’s ODL service has garnered multiple accolades in various locations thus far. After the introduction of the first ODL in Japan, it will make its debut in Brazil in August 2022. This collaboration was with Travelex Bank, the first bank in South America to employ ODL.
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