Investing.com – Last year, Ripple acquired a 40% stake in payment service provider Tranglo. Besides processing cross-border payments, the platform also supports commercial payments, mass payments, collections as well as charging for mobile payment solutions.
To do this, the company uses on-demand liquidity (ODL) on RippleNet. Clients benefit from very low transaction costs and additional liquidity. Indeed, while cross-border payments require hedged currency accounts, during an ODL transaction, switching from one currency to another is done via the XRP token.
Last September, an ODL pilot phase was launched, during which 250,000 transactions were processed in 100 days, for a volume of 48 million dollars.
Today, the company goes further by offering its customers an all-in-one solution for commercial payments. This new service is called Tranglo Business.
It should allow businesses of all sizes to access a streamlined global payment process. Tranglo CEO Jacky Lee said:
“We developed Tranglo Business to help businesses solve their payment challenges. Our goal is to help them choose the most cost-effective method to send and receive money, without compromising on speed and security. As part of our Excellence Guarantee, customers must complete an onboarding process in Singapore before being granted access to Tranglo Business and all of its features.”
The range of features offered is very wide. From normal business payments, the offering ranges from currency and wallet management to smart routing, API integration and permissions management for different users, to IT-assisted compliance screening. ‘IA.
Thus, even small and medium-sized companies have the opportunity to optimize their payment traffic on the basis of blockchain technology.
Ripple Technical Price Marks
Ripple is currently losing -1.78% with a price of 0.7073 dollars. On the daily chart, we can see that trading has been going on for more than two months in a range between $0.6754 and $0.9153.
Yesterday the support of the 23.6 percent Fibo retracement of $0.7320 was broken so a test of $0.6754 is to be expected.
Only if XRP manages to close the day above this support, which is now resistance, can a rally towards the 38.2% Fibo retracement of $0.7670 be initiated.
By Marco Oehrl