Crypto firm Ripple has agreed to acquire a 40% stake in Asian payments specialist Tranglo. The transaction is subject to regulatory approvals is expected to occur sometime this year.
The planned investment is aimed at expanding the reach of Ripple’s On-Demand Liquidity (ODL) service in Asia, which uses XRP for cross-border transactions.
Ripple said Tranglo would play a “critical” role in supporting its existing ODL corridors, such as the Philippines, and introducing new ODL corridors in the Southeast Asian region.
