Ripple XRP news – Tranglo, Asia’s leading cross-border payment platform, recently announced that it had enabled Ripple’s on-demand-liquidity service to every payment corridor under its services. This addition will allow its remittance providers to instantly process cross-border payments without the need for costly pre-funding.
The payment hub released this decision through an announcement posted on its official Twitter account.
Tranglo mentions that this decision was pushed by the success of the pilot Ripple conducted back in September 2021. In this trial, Ripple was able to carry out over 250,000 transactions worth over $48 million within 100 days after launch. This was organized and carried out through RippleNet, Ripple’s global financial network.
This announcement left XRP, Ripple’s native digital token, investors on Twitter pleased. Several investors saw this as amazing news, especially as this was among the goals released by Ripple through their 2022 incentive. With this, Ripple’s payment ecosystem has widened even more.
This ODL system involves buying and selling Ripple XRP tokens in both the originating and destination countries to easily create a source of liquidity on demand. Before, Richard Ambrose, CEO of Azimo, said that Ripple’s ODL solution could significantly reduce the cost and delivery time for cross-border transactions. He further added that the customers who used the service are greatly benefitted from this service.
As it stands, Tranglo is among the Major Asian cross-border payment hubs which aim to be among the global leaders in providing accessible and equitable financial services for its customers worldwide. Thus far, the company is progressing very well in this regard.
In March 2021, it can be remembered that Ripple acquired a 40% stake in Tranglo. This made the stakes higher for the company and the success an even greater achievement as it moves forward with its cross-border remittance venture.