Ripple partner Tranglo is continuously expanding its operations with the use of RippleNet for new payment solutions.
Ripple is a San Francisco Based Fintech firm and its RippleNet is popularly known to support better payment solutions for businesses. Ripple is that crypto project of the crypto industry, which is using blockchain technology perfectly. Since December 2021, Ripple has been under the hurdle of huge regulatory scrutiny issues because of the lawsuit filed by US Securities and Exchange Commission (SEC) against the Company and its operations with the XRP token.
On 11 April, Tranglo announced its new business payment platform “Tranglo Business” to provide better and easy payment solutions for businesses. This payment solution of Tranglo will allow the business to accept payments globally and in domestic regions without any restriction of countries’ borders.
Earlier this, Tranglo announced its partnership with Ripple to use Ripple’s ODL (On-demand liquidity) platform for its 25 payment corridors to a achieve real-time speed.
Last year, Ripple acquired 40% stakes in Tranglo and turned this company into one of the leading blockchain-based payment solution providers.
Right now Tranglo has its offices in Kuala Lumpur, Singapore, Jakarta, Dubai, and London. And the company was founded in 2008. In more than 100 countries, the company has a network with more than 2,500 mobiles operations, 1,300 banks/wallets, and 130,000 cash collection sites across more than 100 countries.
Ripple vs SEC
In December 2020, when the crypto market was in the initial phase of a bullish run, the US SEC Agency filed a lawsuit against Ripple.
Through the lawsuit, SEC Agency claimed that Ripple’s XRP token is a security and it is unregistered with the SEC agency. All these allegations and legal precedes against Ripple resulted in a downfal in the price of its native token.