Crypto network Ripple Labs said on Tuesday it will acquire a 40% stake in cross-border payment hub Tranglo in an effort to strengthen its market presence in the Asia-Pacific region.
Tranglo’s infrastructure will support existing payment corridors, as well as enable RippleNet customers in additional countries to use the firm’s On-Demand Liquidity service. “RippleNet customers using ODL will also be able to leverage Ripple’s Line of Credit to free up working capital and scale cross-border payments into more markets than ever before” the company said in a statement.
