Tranglo Expands Operations in Europe with Instant SEPA, Partners with Inpay for Fast Cross-Border Payments
Tranglo, a leading global payment service provider (PSP) and ally of Ripple, is making significant strides in its expansion plans by entering the European market. Through its collaboration with European fintech firm Inpay, Tranglo has introduced Instant SEPA, a cutting-edge payment solution that aims to revolutionize cross-border payments across the continent. This partnership represents a major milestone for Tranglo’s global presence, particularly in Europe and Asia.
The partnership between Tranglo and Inpay has paved the way for the introduction of Instant SEPA, a state-of-the-art payment solution designed to facilitate instant payouts across Europe. Initially launched in 12 important SEPA countries, this collaboration aims to expand Tranglo’s market share to an additional 24 European countries, marking a significant milestone in the company’s growth strategy.
Inpay’s stringent regulatory compliance oversight by the Danish FSA and its expertise in risk management have played a crucial role in supporting Tranglo’s expansion efforts. Through the partnership with Inpay, Tranglo is able to offer multi-currency, cross-border payments within SEPA countries at a lower cost and with significantly shorter transaction times compared to traditional methods.
Customers can now enjoy transparent fees and reliable transfer times thanks to Inpay’s efficient processing capabilities and extensive network. Jacky Lee, CEO of Tranglo Group, highlighted the alignment of goals and robust risk management as key factors in choosing Inpay as a partner, praising their ability to effectively manage complex payment flows and regulatory requirements.
Tranglo has been a key player in Ripple’s on-demand liquidity (ODL) service since 2022, enabling immediate and affordable cross-border payments across 25 payment corridors without the need for pre-funding. This partnership follows the successful trial phase of the ODL service, which processed transactions worth USD 48 million in its early stages.
Ripple acquired a 40% stake in Tranglo in 2021 by leveraging the digital token XRP. This strategic partnership has allowed Tranglo to enhance its payout services, expand its global reach, and offer payment and remittance options through an extensive network. The aim is to improve the functionality and market share of RippleNet and its ODL service.
XRP, one of the most popular cryptocurrencies from Ripple, experienced a significant decline after reaching its yearly high of $0.7440. Despite this decline, XRP still provided investors with a weekly return of approximately 17%. With an RSI rating of 59 and current trading above the 20-day Exponential Moving Average (EMA), XRP appears poised for potential further growth, despite the possibility of profit-taking actions.
Data from CoinGlass indicates a significant increase in derivatives turnover related to XRP, reaching $8.75 billion in the cryptocurrency market. This surge extends beyond derivatives and XRP futures, as the spot market also experiences growth. XRP has recorded a robust trading volume of $7.66 billion, ranking it sixth among the top 100 cryptocurrencies in terms of spot trading volume.