Ripple: Acquires 40% Stake in Tranglo

  • Ripple, a provider of enterprise blockchain solutions for global payments, is to acquire 40% of Asian cross-border payments specialist Tranglo
  • Completion of this transaction is subject to regulatory approval and customary closing conditions and is expected to occur in 2021
  • This partnership will also allow Ripple to meet customer demand in the region and expand the reach of On-Demand Liquidity (ODL)
  • Tranglo will support existing corridors, such as the Philippines, and introduce new ODL corridors within its current network
  • Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions
  • Ripple enables payments everywhere, every way, for everyone using the power of blockchain

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