18.6 C
Monday, March 4, 2024

Ripple’s strategic partner Tranglo teams up with UAE’s top remittance service provider


Ripple’s strategic partner Tranglo teams up with UAE’s top remittance service provider

2023-05-29 06:40:20 US Eastern Time

united arab emirates flag


Tranglo, its investment partner, has revealed a major move, partnering with Al Ansari Exchange. Al Ansari is the largest foreign exchange and remittance company in the United Arab Emirates (UAE).

The UAE-based remittance company has a large customer base (over three million) and completes approximately 130,000 transactions per day. These figures show that the exchange has a significant presence in the market.

Tranglo expands its footprint

The partnership marks a major step forward in Tranglo’s expansion plans in the Middle East. Keep in mind that the United Arab Emirates is the second largest country when it comes to sending money abroad.

Tranglo provides international payment services and operates in different fields, including

Crypto business.

Additionally, the company oversees mobile cash solutions and money transfers.

Tranglo improves its international payment service by using RippleNet – one of Ripple’s extensive payment networks. Ripple (in addition to being Tranglo’s investment partner) holds a significant 40% stake in the company as an investor.

Ali Al Najjar, COO of Al Ansari Exchange, commented on the increase in client demand and the need for innovative technology and best-in-class solutions. He emphasized that Al Ansari can enjoy accelerated growth through Tranglo’s high-end technology and Ripple’s decentralized payment solutions.

At the same time, the alliance between the trading company and Tranglo has also attracted the attention of the industry.


world. Ripple fans speculate on possible Ripple ODL (On-Demand Liquidity) integration.

Tranglo will use this alliance to strengthen its footprint in the UAE market, ensuring enhanced international payment capabilities and enhanced remittance services.

These collaborations help cross-border remittances enjoy benefits such as extended network coverage and credit facilities. Meanwhile, the Ripple community considers current developments while awaiting potential ODL integration. Additionally, Invezz.com


As the SEC case draws to a close, XRP is showing a bullish outlook for the upcoming session.


Ripple’s strategic partner Tranglo teams up with UAE’s top remittance service provider

first appeared in




Source link

Related Articles

UAE Achieves a Pioneering Economic Milestone, Thriving Prosperity

UAE Economy Achieves Unprecedented Milestone The United Arab Emirates (UAE) has achieved a significant milestone in its economic diversification journey, marking what officials are calling...

Emirates Development Bank’s Impact on UAE Industrial GDP: A Catalyst for Economic Growth

Emirates Development Bank Empowers UAE's Industrial Growth with Boost to GDP Contribution Since the launch of its strategy in 2021, Emirates Development Bank (EDB) has...

UAE Golden Visa with Potential Automatic Approval , Unlock You Seamless Success

UAE Golden Visa Opportunities Automatically Property owners with a portfolio valued at Dh2 million or more may soon find themselves recipients of UAE Golden Visas,...

UAE Visit Visa Holders: Top Official Advocates Work Access

UAE Visit Visa Holders: Top Official Advocates Work AccessIn adherence to existing regulations, engaging in employment while on a visit visa in the UAE...

Fuel Prices Announcement in the UAE: Will Petrol and Diesel Rates Rise?

Fuel Price Announcement: Speculation on UAE Petrol and Diesel Rates In February 2024, global oil prices witnessed a notable increase of 3.34%, equivalent to $2.6...

Latest Articles