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- Tranglo expands into Europe with Instant SEPA, offering fast payments across the continent through a partnership with Inpay.
- Ripple’s ally Tranglo could integrate XRP soon, enhancing its cross-border payment services after a successful ODL pilot.
Tranglo, a prominent partner of Ripple and a worldwide payment service provider (PSP), has advanced its expansion strategy by entering the European market. With the recent adoption of Instant SEPA and its collaboration with the European fintech company Inpay, Tranglo is set to transform cross-border payments throughout the continent. This partnership represents a major advancement for Tranglo’s worldwide reach, especially in Europe and Asia.
The collaboration between Tranglo and Inpay has enabled the introduction of Instant SEPA, a cutting-edge payment solution designed to facilitate instant payout services across Europe. This collaboration, first introduced in 12 important SEPA countries, anticipates expanding Tranglo’s market share to 24 more European countries, representing a significant advancement in the company’s growth plan.
Strategic Partnership for Scalability
The Danish FSA’s strict oversight of Inpay’s regulatory compliance and its proficiency in risk management have played a pivotal role in supporting Tranglo’s efforts to expand. Tranglo can offer multi-currency, cross-border payments within SEPA countries at a reduced cost and with a much shorter transaction time than traditional methods, thanks to its partnership with Inpay.
Customers can now enjoy transparent fees and reliable transfer times, thanks to Inpay’s efficient processing and extensive network. Jacky Lee, CEO of Tranglo Group, emphasized the alignment of goals and robust risk management as key factors in selecting Inpay as a partner, praising their adeptness in managing complex payment flows and regulatory requirements effectively.
Tranglo has been a key component of Ripple’s on-demand liquidity (ODL) service since 2022, enabling immediate, affordable cross-border payments over 25 payment corridors without requiring pre-funding. This partnership comes after the ODL service’s successful trial program, which handled transactions totaling USD 48 million during its early phases.
By utilizing the digital token XRP, Ripple acquired a 40% stake in Tranglo in 2021 to expand the functionality and market share of RippleNet and its ODL service. With the help of this strategic partnership, Tranglo has been able to improve payout services, increase its global reach, and provide payment and remittance options over a vast network.
Ripple (XRP) Price Corrects After Hitting Yearly High
One of the most popular cryptocurrencies, XRP from Ripple, saw a significant decline following its year-to-date peak of $0.7440. Despite this decline, XRP provided its investors with weekly returns of around 17%. With a Relative Strength Index (RSI) rating of 59 and current trading above the 20-day Exponential Moving Average (EMA), XRP looks ready for possible higher growth despite possible profit-taking actions.
Data compiled from CoinGlass reveals a significant uptick in derivatives turnover related to XRP, soaring to $8.75 billion on the cryptocurrency market. This surge isn’t solely confined to derivatives and XRP futures, as the spot market also experiences growth. XRP has recorded a robust trading volume of $7.66 billion, ranking it sixth among the top 100 cryptocurrencies for spot trading volume.
