Tranglo Announces Enabling of Ripple’s ODL Service

Tranglo, Asia’s leading cross-border payment hub, has announced that it has now enabled Ripple’s on-demand liquidity (ODL) service on all its payment corridors. This will allow remittance providers to process instant cross-border payments without costly pre-funding.

The payment hub announced this decision in a Twitter post shared earlier today.

ODL leverages #XRP to bridge currencies, allowing businesses to perform instant cross-border payments without costly pre-funding. Sign up for ODL today to free up working capital and grow your business (https://t.co/hvyIIXBtI1)

— Tranglo (@Tranglo) February 28, 2022

Tranglo states that this move is a result of the successful pilot Ripple had conducted in September 2021. This was when it was able to carry out 250,000 transactions worth USD48 million processed in the first 100 days. Ripple’s global financial network Ripplenet is the organization behind these operations.

The move has left XRP investors on Twitter pleased. One user asks, ‘’Do you understand what has just happened with #XRP’’ referring to Tranglo’s announcement. XRP is the cryptocurrency issued and managed by Ripple Labs Inc.

DO YOU UNDERSTAND WHAT HAS JUST HAPPENED WITH #XRP

— XRP Researcher | XRP Investor | XRP BULL 🍉🍉 (@XRPNews_) March 1, 2022

ODL involves the process of buying and selling the XRP cryptocurrency in originating and destination countries to create a source of liquidity on demand. “Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits,“ says Richard Ambrose, CEO of Azimo, an online remittance service headquartered in Amsterdam.

Tranglo is a major Asian cross-border payment hub, aiming to be a global leader in providing accessible and equitable financial services. In March 2021, Ripple had acquired a 40% stake in Tranglo.