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Tranglo Announces Activation of Ripple’s ODL that Leverages XRP across All Its Payment Corridors

Tranglo, a global cross-border payment processing hub that supports business payments, mass payout, payment collection, money transfer, and mobile top-up, has recently announced that it has enabled Ripple’s On-Demand Liquidity (ODL) across all its payment corridors.

According to the report, Ripple’s ODL activation comes after the successful test that played in September 2021, in which $48 million was processed in 100 days with 250,000 transactions.

Tranglo tweeted, “We’re thrilled to announce today that we’ve enabled Ripple’s On-Demand Liquidity across all our payment corridors. This comes after a successful pilot ODL deployment last September which saw 250k transactions worth USD48M processed in 100 days.

“ODL leverages XRP to bridge currencies, allowing businesses to perform instant cross-border payments without costly pre-funding.”

Going by the report, Ripple, the US-based cross-border payment firm, acquired 40% of Tranglo in 2021 to scale RippleNet and the ODL service.

Reacting to the new development, Jacky Lee, CEO of Tranglo Group said:

“Our remittance partners want to enter markets as fast as possible at the lowest cost. ODL offers just that: they can start sending payments without locking in funds at different financial intermediaries, which can be costly and time-consuming.

“Remittance businesses that sign up for ODL also gain access to both Tranglo Connect and RippleNet, allowing them to better meet increasingly diverse payment needs.”

The report describes Tranglo as a payment firm that helps financial institutions and businesses pay globally via Tranglo Connect, its cross-border payments solution.

The firm seamlessly integrates payout and partner services. It also unifies the end-to-end payment process with direct API access.

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Through its services, companies can reliably and securely make instant payments to over 25 countries across the world.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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