Ripple doubles by acquiring 40% of payments firm Tranglo
Ripple announced that they are taking 40% Malaysian payments from Tranglo. This means that Tranglo will adopt Ripples On-Demand Liquidity Solution (ODL).
Last year in September, Tranglo’s transaction value was $6.91 billion. The company has worldwide offices across Asia, including Kuala Lumpur, Jakarta, Dubai, and London. They also deal with telecom firms such as Etisalat and Singtel. Besides, they claim to connect with 2,500 mobile operators.
Ripple’s announcement expressed that the payment company would use Ripple’s ODL in existing space and introduce new ODL corridors as well. Tranglo will also use Ripple’s line of credit as an incentive for companies that provide a working capital solution.
But the question is how exactly will Tranglo use ODL? Well, here is what Tranglo CEO told that by partnering with Ripple, they aim to provide feasible and equitable financial services to the people.