Ripple Acquires 40% Stake in Tranglo
Summary
Upon completion, Amir Sarhangi, VP of Product and Delivery at Ripple, and Brooks Entwistle will join Tranglo’s board of directors. This partnership will allow Ripple to meet customer demand in the region and expand the reach of On-Demand Liquidity (ODL), which uses the digital asset XRP to send money instantly and reduce working capital needs. Tranglo will continue to provide and expand its current payment services to make cross-border transactions faster, cheaper and more secure for its customers. By joining Ripple’s growing, global network (RippleNet), financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. With offices in San Francisco, Washington D.C., New York, London, Mumbai, Singapore, São Paulo, Reykjavik and Dubai, Ripple has hundreds of customers around the world.
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