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Ripple Partner Expands Into Europe

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Tue, 12/03/2024 - 18:33
Ripple Partner Expands Into Europe
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Inpay, a rapidly growing European fintech company, has enhanced the expansion of Tranglo, a global payment service provider (PSP), into Europe.

This has been done through the implementation of Instant SEPA, which made it possible to enable instant payout services across the continent. 

The partnership, which commenced with 12 key SEPA countries, is set to extend Tranglo’s reach to an additional 24 European nations. 

This collaboration marks a significant stride in Inpay’s broader expansion strategy, particularly into the Asian market.  

The right partner to support scalability

Inpay’s regulatory compliance, overseen by the Danish FSA, and its expertise in risk management are crucial to Tranglo’s scaling efforts. 

The partnership enables Tranglo to offer cost-effective, multi-currency, cross-border payments in SEPA regions. This would significantly reduce transaction times and costs compared to traditional methods. 

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Customers benefit from transparent fees and reliable transfer times, thanks to Inpay’s efficient processing and broad network. 

Jacky Lee, Tranglo Group CEO, stressed the importance of shared goals and robust risk management in selecting Inpay as a partner, praising their ability to manage complex payment flows and regulatory demands effectively.

A strategic alliance with Ripple

Since 2022, Tranglo has been a key player in Ripple’s on-demand liquidity (ODL) service, enabling instant, cost-efficient cross-border payments across 25 payment corridors without the need for pre-funding. 

This followed the successful pilot of the ODL service, which processed transactions worth USD 48 million in its initial stages. Ripple’s acquisition of a 40% stake in Tranglo in 2021 aimed to enhance the reach and efficiency of RippleNet and its ODL service, which utilizes the digital asset XRP. 

The partnership with Ripple has allowed Tranglo to offer improved payout services and expand its global footprint, providing remittance and payment solutions across a vast network.

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