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Tranglo upgrades its activities in Malaysia with real-time cross-border payments<\/p>\n<\/div>\n<\/div>\n
Ripple partner Tranglo has launched<\/a> real-time cross-border payments in one of the fastest growing countries in the ASEAN region. Earlier, at the end of August, the company announced expansion into the UAE and the opening of a payment corridor there. This time it is time for Malaysia, but in a different way.<\/p>\n Specifically, the innovation is that 80% of cross-border payments processed by Tranglo<\/a> will take place in real time. The upgrade was needed due to the boom in real-time transactions in Malaysia. The breakthrough came thanks to Malaysia’s central payment system, PayNet, which had previously implemented the DuitNow real-time platform. As a result of these activities, real-time transactions have grown by 800% in three years and are expected to increase 3.5 times more by 2025.<\/p>\n Tranglo, for its part, seeing prospects not only in Malaysia but throughout the Asia-Pacific region, hopes to strengthen its position in the cross-border transfer market by introducing new and relevant technologies.<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n Recall that Ripple<\/a> is one of the largest investors in Tranglo, owning a 40% stake in the company. Tranglo’s expansion in South Asia and corresponding market growth, if the above data is to be believed, should be another brick in Ripple’s foundation in Asia.<\/p>\n<\/a><\/p>\n
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