Ripple continues its push into the Asian market by acquiring a stake in a cross-border payments firm.
According to a blog post, Ripple has agreed to acquire a 40% stake in cross-border payments firm Tranglo, with the aim to expand RippleNet’s On-Demand Liquidity, or ODL, service that uses the XRP cryptocurrency. The completion of this transaction is subject to regulatory approval, with investment firm TNG Fintech Group remaining the majority shareholder in Tranglo.