Tranglo's Direct-to-Wallet Service Revolutionizes Remittances, Propelling Ripple's Global Dominance

Tranglo, Ripple's partner, has launched an innovative payment solution that enables direct-to-wallet cross-border transfers. This move targets millions of rural recipients without access to financial institutions, offering instant and accessible remittance. The solution has already resulted in an 8-fold increase in transactions, revolutionizing cross-border payments and attracting positive feedback from industry experts.

Tranglo's Direct-to-Wallet Payment Solution Revolutionizes Remittances, Propelling Ripple's Cross-Border Dominance

In a groundbreaking move that has the potential to reshape the global remittance landscape, Ripple's esteemed partner, Tranglo, has announced the launch of its direct-to-wallet cross-border payment solution. This transformative offering provides a seamless means of transferring funds directly to e-wallets, eliminating intermediaries and expediting the process of sending money across borders.

Tranglo's latest innovation is a testament to the company's unwavering commitment to enhancing financial inclusion and facilitating frictionless cross-border payments. With its extensive network spanning over 30 e-wallets, the new solution offers unprecedented accessibility, enabling millions of recipients in rural areas to receive funds swiftly and conveniently.

The direct-to-wallet service operates around the clock, ensuring round-the-clock availability and eliminating the challenges posed by traditional banking hours. This feature is particularly beneficial for migrant workers and their families, who often rely on remittances to support their livelihoods.

"Our data unequivocally demonstrates the growing popularity of e-wallets for cross-border transactions," stated Jacky Lee, Group CEO of Tranglo. "The demand for e-wallet payouts has surpassed that of traditional banking channels, with some corridors experiencing an astounding surge of nearly 400% in transactions."

Tranglo's solution has already garnered widespread adoption, with its largest partner in the UAE witnessing an extraordinary 8-fold increase in transactions to Pakistan and Indonesia through the e-wallet payout service. This remarkable growth underscores the transformative potential of the direct-to-wallet model.

Ripple, a global leader in cross-border payments, has played a pivotal role in Tranglo's success. Through its innovative On-Demand Liquidity (ODL) service, Ripple enables instant cross-border payments by utilizing XRP, its native digital asset. The partnership between Tranglo and Ripple has been instrumental in driving innovation and revolutionizing the cross-border payment industry.

XRP lawyer Bill Morgan hailed Tranglo's latest development as a testament to the company's unwavering vision and the transformative use case of the direct-to-wallet payment solution. His endorsement further underscores the positive market sentiment surrounding Tranglo's offering.

The announcement has had an immediate impact on the XRP market, with the price experiencing a notable 2% increase in the past 24 hours. The trading volume has also surged by 80%, indicating a heightened interest among investors. Technical analysts are optimistic about the future trajectory of XRP, predicting a breakout above the triangle pattern and a potential rally towards the $1 mark.

Furthermore, the total XRP futures open interest has witnessed a 6% increase, with the majority of gains occurring amid a market-wide recovery. While demand from derivatives traders remains robust, a sustained rally is anticipated once the XRP OI surpasses $1 billion.

Tranglo's direct-to-wallet payment solution is a game-changer for the remittance industry. By leveraging the power of e-wallets and Ripple's innovative technology, Tranglo is breaking down barriers, empowering migrant workers to support their families and fostering financial inclusion on a global scale. As the demand for cross-border payments continues to soar, Tranglo's solution is well-positioned to capture a significant market share and continue its impressive growth trajectory.