This progress allowed the company to address the challenges of small and medium enterprises in the region and abroad. Per its CEO Jacky Lee, this breakthrough unlocked new cash flow opportunities for many SMEs in various segments:
For example, cash flow is one of the biggest challenges SMEs face when expanding quickly. To solve that, we work with Ripple, the leading enterprise blockchain and crypto solutions provider, to extend credit facilities via its On-Demand Liquidity service. This helps our partners to free up working capital and grow.In all, the company processed over $3.3 billion in transfers in 2022 while, in the first six months of 2022, this sum exceeded $2 billion in equivalent.
Also, its servers demonstrated over 99.9% uptime, which allowed the service to accomplish previously unseen metrics related to the customer experience. As covered by U.Today previously, Ripple sensationally"rebranded" its ODL services. Recently, all mentions of ODL were removed from the company's website. Instead, the firm will use the more"mainstream" termAlso, since 2018, the team increased its headcount by 40% from 140 to 260 in five countries. In September 2023, Tranglo stole headlines via its coordinated expansion into threeTogether with SBI Remit Co., Ltd.
Also, Tranglo facilitates transactions between the U.K., Australia and South Korea, with a focus on the needs of the ever-growing Malaysian diaspora in these countries.
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