The investment firm TNG Fintech Group remains the majority owner of Tranglo. The aim of this purchase is to expand RippleNet's on-demand liquidity or on-demand liquidity (ODL) service, which uses the cryptocurrency XRP. Regulatory approval is required to do this. Ripple aims to significantly enlarge its ODL paths with Tranglo's payment infrastructure.
Tranglo is a cross-border payments center offering business payments, money transfers, and mobile top-ups, with offices in Malaysia, Indonesia, the United Arab Emirates, and the United Kingdom. A representative of RippleNet stated that the acquisition would make cross-border transactions using blockchain technology and digital assets faster and more secure.
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