Key Takeaways -
- Tranglo's partnership with Ripple led to a 1,700% surge in On-Demand Liquidity (ODL), reaching $970 million in 2022.
- About 80% of Tranglo's $3.3 billion transactions in 2022 were completed in real-time, setting new customer experience standards.
- Ripple's rebranding to "Ripple Payments" and Tranglo's global expansion into new markets signal significant shifts in the fintech landscape.
In the ever-changing and often volatile landscape of the cryptocurrency market, Tranglo and Ripple have notably emerged as solid pillars of stability and innovation. This comprehensive article delves deeper into how their groundbreaking strategic alliance is not just surviving but thriving, thereby revolutionizing the intricate world of cross-border financial transactions.
Tranglo's Steady Ascent Amid Market Turbulence
Based in Malaysia, Tranglo has demonstrated an extraordinary level of resilience and stability, even in the face of the crypto market's unpredictable fluctuations. This remarkable steadiness can be primarily credited to its well-thought-out strategic partnership with Ripple, a frontrunner in the global fintech industry. This alliance has been a significant driving force behind Tranglo's unwavering and consistent growth trajectory from 2021 all the way through to 2023.
The Surge in On-Demand Liquidity (ODL)
The synergistic collaboration between Tranglo and Ripple has resulted in an almost unbelievable 1,700% surge in the usage of their On-Demand Liquidity (ODL) services. To provide a clearer perspective, the net volume of ODL transactions experienced a meteoric rise, soaring from a modest $53 million in 2021 to an astounding $970 million by the close of the following year, 2022.
The Revolution of Real-Time Transactions
Tranglo's innovations didn't merely end with enhancing its ODL services. The company successfully processed an impressive total of $3.3 billion in financial transactions during the course of 2022 alone. Even more noteworthy is the fact that approximately 80% of these transactions were executed in real-time, effectively eliminating any latency issues and thereby significantly elevating the overall user experience.
The Evolution of Ripple Payments
In a move to make its services more user-friendly and accessible, Ripple took the initiative to rebrand its ODL services. The newly coined term for these services is now "Ripple Payments." This strategic repositioning is designed to make Ripple's diverse range of services more approachable, aiming to resonate with an even broader audience than before.
Expanding the Global Footprint
As of September 2023, Tranglo has ambitiously expanded its range of services to include three additional countries—namely, the Philippines, Vietnam, and Indonesia. This expansion complements their existing services, which already facilitate smooth and seamless financial transactions between countries such as the U.K., Australia, and South Korea. Furthermore, Tranglo has successfully penetrated the UAE market thanks to a strategic alliance with Lulu Money.