ripple Partner Tranglo’s Game-Changing Cross-Border Payment Solution Goes Live
Ripple partner and cross-border payment hub Tranglo said on Monday that its direct-to-wallet cross-border payment solution is now live. The new payment solution is a game-changer for remittance partners, delivering an 8x increase in transactions, as early eWallet adopters noted.
Direct to Wallet Transfers from Ripple Partner Tranglo
Fintech specialist Tranglo announced in its press release on April 8 that instant and direct transfers will be provided to more than 30 e-Wallets. This is a major expansion of the cross-border payment network.
Direct-to-wallet transfers eliminate the need for intermediaries, making remittances more accessible and instant. Tranglo argues that this move benefits millions of rural beneficiaries who often lack access to traditional financial institutions. The direct-to-wallet cross-border payment solution remains open 24/7 and is a reliable and convenient alternative.
“Our data shows that cross-border transactions to eWallets have doubled since 2021. Overall, eWallet payments are outpacing banking channels this year, with nearly 400% growth in transactions in some corridors from the GCC to Pakistan.” “There is an increase,” he said. Tranglo Group CEO Jacky Lee.
Tranglo direct-to-wallet transfers are available in Bangladesh, Cambodia, China, Indonesia, Nepal, Pakistan, Philippines and Vietnam. The firm’s largest partner in the UAE recorded a massive 8x increase in transactions to Pakistan and Indonesia using its eWallet payment service.
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XRP Lawyer Reacted to the Development
Tranglo has teamed up with Ripple to revolutionize cross-border payments, including on-demand liquidity (ODL) across multiple payment corridors.
XRP lawyer Bill Morgan Reacting to Tranglo’s latest developments, he praised the vision and use case of its direct-to-wallet cross-border payment solution.
XRP price has increased by 2% in the last 24 hours and is currently trading at $0.607. The 24-hour low and high are $0.589 and $0.609 respectively. Additionally, the 80% increase in trading volume in the last 24 hours shows that investors’ interest has increased.
Analyst Dark Defender believes that XRP is poised to break above the triangle formation on the monthly time frame. He predicts that April will be a comeback month for XRP and that the $1 price target will be quite achievable.
Total XRP futures open interest also increased by 6% in the last 24 hours; The big gains came in the last few hours amid a marketwide recovery. Although there is high demand from derivatives traders, a rise may not come until XRP OI exceeds $1 billion.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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