Tranglo, a Ripple On-Demand Liquidity (ODL) partner and prominent cross-border payments provider, has ventured into the European region by announcing the launch of a new instant Single Euro Payments Area (SEPA) solution. This was designed to increase speed and efficiency of SEPA payments, and comes in response to increasing demand for real-time cross-border payments within the region. With SEPA facilitating over 43 billion transactions annually, this move gives Trangle more opportunities to expand their services.
The taking of this initiative marks a significant European expansion for the firm and will aim to facilitate lightning-fast SEPA payouts within Europe. Currently, Belgium, Croatia, Finland, Germany, Greece, Hungary, the Netherlands, Portugal, Slovakia, Spain, Sweden and the United Kingdom are supported by the service, with more countries planned to be included soon. The CEO of Tranglo, Jacky Lee, has noted that because of the intensified demand for real-time cross-border payments this move was highly necessary.
The SEPA payment solution is already in a fully operational state and it will be accessible 24/7. Every bank account used must have an IBAN in order to be eligible for the service. Businesses, individuals and organizations are urged to take advantage of this feature as it may solely bring of quicker, more cost-effective, and dependable international transactions. Tranglo is using Ripple’s On-Demand Liquidity (ODL) solution to take advantage of the increased compatibility with XRP, Ripple’s native token, as a bridge asset and therefore bolster cross-border payments. Last August, the company added UAE as part of its Connect network.
Recent news about Tranglo launching an instant SEPA solution for Europe was tweeted about by prominent crypto influencer Cryptic Poet. This exhibit that the magnitude of this development is being appreciated by many, as it will be of great benefit for those who seek to avail real-time settlement services. This step by Tranglo is surely a milestone for cross-border payments and will consequently expand coverage and remove barriers among countries.
Parker Kelly
- 2023-04-03
Tranglo's Instant SEPA Payment Solution for Europe
Tranglo, a Ripple-partner and popular cross-border payments provider, has launched a new SEPA payments solution which allows fast & efficient transactions to and from European countries. This move with Ripple's On-Demand Liquidity (ODL) solution marks a significant expansion in Europe and will benefit many users.
