Ready To Use Ripple ODL, Tranglo Partners With Al Ansari Exchange
JAKARTA The leading payment company and blockchain solution, Ripple, has a service called On-Demand Liquidity (ODL). With ODL, consumers can move money instantly to various countries without the need to use third parties such as banks.
The Ripple ODL service will be used by Tranglo's strategic partners after successfully establishing partnerships with the largest money forwarding and value asing company in the United Arab Emirates (UAE), Al Ansari Exchange. For your information, Tranglo is Asia's leading cross-border payment company that has collaborated with Ripple in 2021.
Tranglo Collaboration with Al Ansari allows Tranglo to spread its wings to the Middle East market. It can also have a major impact on the use of Ripple ODL services.
"I am very happy with the collaboration with Al Ansari. I am confident that this partnership will improve the cross-border payment experience in the UAE and, furthermore, in the GCC region," said Tranglo Group CEO
SEE ALSO:
Al Ansari Exchange CEO Ali Al Najjar positively welcomed the collaboration with Tranglo. According to Al Najjar, customer demand has increased significantly while cutting-edge technology and innovative solutions are urgently needed.
The collaboration between Tranglo and Al Ansari Exchange has caught the attention of industry experts and Ripple fans, sparking discussions on the potential future integration of Ripple's On-Demand Liquidity (ODL) solution in their partnership.
Al Ansari Exchange's adoption of Tranglo Connect for cross-border payments paved the way for further progress in leveraging Ripple's ODL technology, which was launched for the first time in Japan. Citing a Coingape report, Al Ansari has already worked with Ripple to connect with MoneyMatch.
The UAE, known as a country friendly to expatriates, has experienced an increase in inter-state remittances. According to the World Bank, overseas shipments reached 47.5 billion US dollars in 2021. Al Ansari Exchange itself plays a dominant role in sending money abroad.