Ripple expands further into Middle East via Tranglo’s new partnership with LuLu Money
Tranglo, a leading hub for cross-border payments and a trusted partner of Ripple, is forging ahead with its expansion into the Middle East through a new collaboration with LuLu Money. By joining forces with LuLu Money, a subsidiary of Lulu Financial Holdings based in Abu Dhabi, Tranglo aims to simplify and expedite cross-border transactions, marking a significant milestone in its regional presence.
In a strategic move, Tranglo has solidified its partnership with this influential regional player after unveiling a payment corridor in the United Arab Emirates (UAE) last August. This alliance capitalizes on the unique strengths of both organizations, propelling them to the forefront of seamless cross-border payment solutions.
Tranglo brings to the table its Tranglo Connect solution, a platform that leverages the entire payment process through direct API access. Notably, Tranglo stands out by processing an impressive 80% of its payments in real time, surpassing the global industry average.
Moreover, Tranglo offers cross-border payout services leveraging RippleNet. It is worth highlighting that Ripple has been a longstanding partner of Tranglo, with the crypto company holding a significant 40% stake in the organization.
LuLu Money is no stranger to payment technologies either. The company operates Digit9, an API-first platform that empowers financial institutions to extend their services to other financial entities and fintech firms. This remarkable platform enables seamless remittance-as-a-service, expanding their reach to customers across the world through LuLu Financial Holdings’ extensive network.
Source: https://u.today/ripple-takes-root-in-major-arab-economy-via-tranglo-partnership