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Ripple XRP: Tranglo Added Ripple’s ODL Service to its System

Gaurav Roy by Gaurav Roy
March 5, 2022
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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.

Ripple XRP- Tranglo Added Ripple's ODL Service to its System
Tranglo recently enabled Ripple’s ODL system on all its platforms.

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.

Ripple XRP- Tranglo Added Ripple's ODL Service to its System
Tranglo is a major player in the cross-border payment market.

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. 

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: XRP lawsuitxrp newsXRP predictionXRP ripple news
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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