With the Asia giant Tranglo, Ripple XRP now enters the ASIA market with a 40% stake, supporting cross-border payments in 100+ countries, 2500 mobile operators, and 1300 banks/wallets.
WHO CARES ABOUT THE SEC LAWSUITS ANYMORE?
Ripple, a well-known name in the global blockchain-based payments space, has announced that it will be acquiring 40% of Tranglo, Asia’s leading cross-border transaction company.
The acquisition will enable Ripple to fulfill the increasing demand for cross-border payment services in Asia and also increase the user-base of Ripple’s On-demand Liquidity service. Ripple’s token known as XRP plays an integral role in On-Demand Liquidity as it is used to process instant payments anywhere at a reduced cost.
How Will Ripple Leverage their 40% Stake in Tranglo?
Being one of the major players in cross-border payments services in Asia, Tranglo will enable Ripple to extend its foothold in crucial markets like the Philippines. Ripple will be able to introduce ODL, which is their core product, to these markets.
The acquisition will also benefit the RippleNet customers who are using ODL. They will be able to leverage the line of credit that Ripple offers, and this will free up working capital for them, which they will be able to put to use for scaling their cross-border payments and expand to further markets.
Ripple’s Breakthrough to Enter the South East Asian Market
Southeast Asian cross-border payments is an entirely different ball game as it is highly fragmented, with many small players vying for dominance. Every country within the SEA region is different from the other when it comes to the cross-border payment infrastructure. There are no set standards, and thus larger players have to rely on expensive workarounds to make things happen.
Under their partnership, both Ripple and Tranglo will work together by leveraging their set of expertise to gain further market share in the SEA region.
With their acquisition of Tranglo, Ripple has proved that they are committed to making the SouthEast Asian payments market stronger and better. Ripple has also appointed Brooks Entwistle, who will lead Ripple’s southeast Asian operations as Ripple’s regional managing director.
Talking about the acquisition, Janglo’s CEO, Jacky Lee, said:
“TRANGLO HAS ALWAYS PRIDED ITSELF ON MAKING CROSS-BORDER TRANSACTIONS FASTER, CHEAPER, AND MORE SECURE. BY PARTNERING CLOSELY WITH RIPPLE AND INTRODUCING ON-DEMAND LIQUIDITY TO NEW MARKETS, WE AIM TO FURTHER THAT AMBITION TO PROVIDE ACCESSIBLE AND EQUITABLE FINANCIAL SERVICES TO THE MASSES.”
On Ripple’s behalf, RippleNet’s General Manager expressed his excitement for the partnership and said:
“TRANGLO’S ROBUST PAYMENTS INFRASTRUCTURE COUPLED WITH THEIR UNPARALLELED CUSTOMER SERVICE AND QUALITY MAKES THEM AN IDEAL PARTNER TO SUPPORT OUR EXPANSION OF ON-DEMAND LIQUIDITY STARTING WITH THE SOUTHEAST ASIA REGION. WE ARE EXCITED TO CONTINUE AND CARRY OUT OUR SHARED MISSION TO TRANSFORM CROSS-BORDER TRANSACTIONS TO BE FASTER, CHEAPER, AND MORE SECURE WITH BLOCKCHAIN TECHNOLOGY AND DIGITAL ASSETS.”
The news about Ripple’s recent acquisition has made it clear that it is not letting the SEC vs. Ripple case hold it back. Ripple is still kicking ass and making deals globally like a major player in the global blockchain-based payments industry. They are giving a bloody nose to the SEC and going all out against them.
Original Source : hashant.com
Want to receive the latest stock and cryptocurrency news and investing ideas that can help you make money ?! Subscribe to our newsletter. Enter your email below and hit the subscribe button.
If you want professional consultation regarding stock or cryptocurrency investing leave your information below and experts from our trusted partners will reach out to you