Ripple partner Tranglo boasts $1 billion in ODL transactions RippleXRP XRPArmy XRPCommunity XRP $XRP
Ripple acquired 40% of Asia's leading cross-border payments provider, Tranglo, in 2021. This partnership was meant to allow Ripple to meet growing customer demand in the Asian region and expand the reach of ODL, which utilizes the digital asset XRP.
Tranglo boasts of its partnership with Ripple, saying it now offers improved cross-border payout services with even broader coverage through RippleNet, Ripple's global payment network. Notably, Ripple has also broadened its ODL footprint as a result of the partnership. Another development regarding the growth of ODL is that Bitso, a major cryptocurrency exchange in Latin America and also a Ripple partner, reported last quarter that through institutional crypto solutions like the On-Demand Liquidity product, it exceeded $3.3 billion in transactions between the U.S. and Mexico in 2022.
Last quarter, total XRP sales by Ripple recorded significant growth, reaching $361.06 million. Ripple has continued to sell XRP only in connection with ODL transactions.
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