Search
Search
Ripple

Ripple, Tranglo & SBI Remit have announced a joint venture

0
0

201 Listen to this article In a bold move signaling the growing dominance of XRP in Southeast Asia, Ripple, Tranglo, […]

Latest News

Listen to this article

In a bold move signaling the growing dominance of XRP in Southeast Asia, Ripple, Tranglo, and SBI Remit have come together to announce their joint venture: SBI Ripple Asia. This partnership is set to launch international remittance services powered by XRP, with TRANGLO Pte Ltd, a renowned cross-border payments provider, managing payout requests.

New Avenues for Remittances in Southeast Asia

The collaboration’s primary objective is to initiate Ripple’s XRP-driven remittance solutions targeting bank accounts in key countries: the Philippines, Vietnam, and Indonesia. These services are expected to roll out this month, marking a significant transformation in Southeast Asian remittance practices. SBI Remit is no stranger to Ripple’s capabilities, having utilized its platform for cross-border transactions since 2017. Taking this relationship a step further, SBI Remit recently launched a crypto-powered solution, making history as the first in Japan to employ XRP as a bridge currency for transferring funds to a crypto wallet in the Philippines.

Efficient Remittances with Tranglo and XRP

As XRP charts a renewed global trajectory, its partnership with Tranglo aims to optimize remittances in the Philippines, Vietnam, and Indonesia, benefiting from XRP’s rapid transaction times and affordability. This synergy is especially relevant given the high-volume remittance corridors in these countries. Under this partnership’s framework, SBI Remit will employ XRP for real-time remittance requests, promising recipients swift and hassle-free transfers in their native currencies.

Read Also:  Ripple Acquires Fortress Trust, Eyes the Vast Potential of IRA Accounts

Why XRP as the Bridge Currency?

Countries with substantial inbound remittances, such as the Philippines, Vietnam, and Indonesia, present a ripe environment for XRP adoption. SBI Remit envisages that their XRP-centric remittance service will accelerate cryptocurrency uptake in these regions, given XRP’s advantages of speed, cost-efficiency, and scalability. By integrating with Ripple’s global network, SBI Remit aims to enhance its foothold in the international remittance domain.

Ripple’s primary allure is its rapid integration with top-tier receivers across crucial markets, allowing enterprises to tap into new corridors with remarkable efficiency. The coming months will be crucial for observing how this collaboration reshapes the remittance landscape and further solidifies XRP’s position in the global financial ecosystem. Stay tuned for more updates on this evolving story.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

0
Would love your thoughts, please comment.x
()
x
Scroll to Top
Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase Tether’s TON Blockchain Entry Reaches $60M: CEO Content SHIB News: 700M Tokens Burned, Shiba Inu Targets $0.00004 Polkadot Relay Chain Upgrade Plan and 10M DOT Prize Initiative TON Network Surpasses $140M TVL as Toncoin Price Skyrockets Bitcoin Falls Below $60,000 After Israel’s Strike on Iran Ragnarok Joins Web3 via Ronin and Gravity Collaboration Worldcoin Announces “Human Centric” Blockchain: World Chain Dubai Flood Spurs Blockchain Life 2024 Airdrop ZachXBT Reveals Frauds on Ethereum Layer-2 Networks Winklevoss Twins Invest $4.5M BTC in Bitcoin Soccer Club VeChain and UFC Unveil Tokenized Gloves Collaboration Web3 Credentials Platform Galxe Goes Live with Mainnet Launch El Salvador’s Newest Hilton Leverages Tokenized Bitcoin Debt