Ripple said its investment in Tranglo is a part of its commitment to enhancing the payments ecosystem in Southeast Asia.
Cryptocurrency company Ripple has acquired a large stake in an Asia-based cross-border payments specialist to meet growing customer demand.
Ripple said Tuesday it has agreed to acquire a 40% stake in Tranglo for the purpose of expanding its RippleNet On-Demand Liquidity service, according to a press release. Tranglo is a cross-border money and prepaid credit transaction hub providing businesses and individuals the ability to transfer payments globally, according to its website.
Southeast Asia’s payments landscape is “highly fragmented,” Ripple said in the release. Each country possesses its own form of payments infrastructure but the region lacks a standard integration for regional cross-border payments.
The hype train for buy now, pay later (BNPL) continues to pick up steam as consumers seek shopping alternatives during the pandemic – could this emerging payment option be a credit card killer?
While flexible payments are something that all generations can get behind, younger consumers in particular are drawn toward simple payment processes and behavioral shifts away from traditional credit cards.
As a way to better understand usage, experiences, and trust surrounding BNPL, The Strawhecker Group (TSG) surveyed over 1,500 U.S. consumers in February. Check out some highlights below and download the infographic to get a better understanding of why consumers are choosing BNPL.