2 big stories this week that are relevant to you as an investor in XRP
- Al Ansari Exchange Taps RippleNet Cloud to Enable Cross-Border Remittances to Malaysia with MoneyMatch
- Ripple and Tranglo Singapore’s Partnership Scales to New Heights in Asia-Pacific
Al Ansari Exchange Taps RippleNet Cloud to Enable Cross-Border Remittances to Malaysia with MoneyMatch
UAE-based foreign exchange and worldwide money transfer company, Al Ansari Exchange has joined RippleNet. Through RippleNet Cloud, Ripple’s global cloud-based financial network technology, Al Ansari Exchange will connect with leading money transfer technology company MoneyMatch to provide same-day remittances to Malaysia.
RippleNet leverages blockchain technology and the Crypto Asset XRP(our biggest holding) to help partners across a global network accelerate their business performance and scale. It delivers a superior end-customer experience, simplified network partnering, liquidity management solutions, lines of credit and a state-of-the-art infrastructure that enable real-time payments.
Ripple and Tranglo Singapore’s Partnership Scales to New Heights in Asia-Pacific
The Philippines is Asia’s third largest remittance receiving country, where funds sent home from Filipino Overseas Foreign Workers (OFWs) are an economic lifeline- ODL leverages the digital asset XRP for instant and low-cost cross-border payments, eliminating the need for costly pre-funded accounts.
With each country in Asia-Pacific having its own currency and unique payments infrastructure, the payments landscape is highly fragmented and lacks interoperability. Yet, Asia-Pacific continues to be one of the fastest growing for RippleNet as the region’s many SMEs, fintechs and PSPs look to address the current challenges associated with cross-border payments. Across the globe, ODL continues to gain momentum, growing 130% quarter-over quarter and making up almost a quarter of transactions on RippleNet.
Tranglo Group CEO Jacky Lee said: “We have successfully unified local and regional support infrastructure using XRP as the bridging currency. With ODL and RippleNet, our partners can look forward to a more seamless payment experience. We expect more such collaborations in line with our mission to provide equitable and accessible financial services, especially in Asia-Pacific.”
Exciting times ahead for XRP holders!
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