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Tranglo collaborates with Ripple to reshape the future of cross-border payments

Written by KrASIA Writers Published on   2 mins read

Tranglo’s partnership with Ripple exemplifies its evolution from addressing reload card inefficiencies to becoming a global leader in cross-border payments.

In the early 2000s, Malaysia, like various other nations, leaned on migrant workers to support its local developments. These workers often purchased foreign mobile top-ups as gifts for their loved ones back home. However, physical reload cards were often found inefficient to handle. Their cumbersome nature subsequently inspired the birth of Tranglo, an enterprise committed to providing a seamless solution for cross-border airtime payments.

Today, Tranglo stands tall as one of Asia’s premier cross-border payment companies, transcending its origins to offer a suite of services encompassing airtime top-ups, foreign remittances, business payments, and more. With a global footprint spanning markets such as Singapore, Malaysia, Indonesia, the UAE, and the UK, Tranglo distinguishes itself by leveraging technology to expedite, economize, and secure cross-border transactions.

In a landmark development in 2021, Ripple’s acquisition of a 40% stake in Tranglo marked a strategic alliance aimed at scaling enterprise blockchain and crypto solutions for cross-border payments. Ripple Payments, the manifestation of this collaboration, utilizes the digital asset XRP as a bridge currency, facilitating instant cross-border payments without the traditional pre-funding prerequisites. This innovative service eliminates the need for intermediaries, touting an ostensible 0% failure rate and introducing intriguing features, particularly in liquidity options.

The impact of Tranglo’s collaboration with Ripple is already evident. For example, the Global E-Money Alliance (GEA), a social banking platform committed to financial inclusion, witnessed a paradigm shift by adopting Ripple Payments. Abandoning the need for pre-funding, GEA experienced a remarkable 70% growth in transactions within three months, connecting over 300 million consumers and facilitating transactions totaling USD 1 billion.

Leveraging the advantages of Ripple Payments and distributed ledger technology (DLT), Tranglo aims to enhance business liquidity and streamline payments across diverse regions. The company prioritizes flexibility, allowing businesses to employ their preferred payout methods.

Furthermore, Tranglo Connect, the company’s proprietary cross-border payments solution, has grown in scale, empowering businesses to execute instant and secure payments to over 70 countries. This expansion aligns seamlessly with Tranglo’s overarching commitment to fostering financial inclusion.


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