top of page
  • Mathew Jacob

Ripple Partner Reveals Remarkable Growth XRP ODL Service as RNT Surges.

In the dynamic world of blockchain and cryptocurrency, one partnership has been making significant waves in recent years. Ripple, a leading enterprise blockchain and crypto solutions provider, has been collaborating with various companies to revolutionize cross-border payments. Among these partners, Tranglo stands out for its impressive trajectory in service metrics from 2021 to 2023. This fintech company has witnessed a remarkable surge in the usage of Ripple's On-Demand Liquidity (ODL) solution, proving to be a game-changer for small and medium-sized enterprises (SMEs) both regionally and internationally.

According to Singaporean news outlet The Edge, Tranglo's journey with ODL began with a modest net transaction volume of $53 million in 2021. In a matter of just one year, this figure skyrocketed to a staggering $970 million in 2022, marking an astounding 1,700% increase. This robust growth has not only bolstered Tranglo's position in the market but has also had a profound impact on SMEs' cash flow challenges.

Jacky Lee, the CEO of Tranglo, emphasized how the utilization of ODL has unlocked new cash flow opportunities for small businesses. He noted that cash flow is one of the biggest hurdles faced by SMEs, particularly when they are in the process of rapid expansion. To address this issue, Tranglo has joined forces with Ripple to extend credit facilities through its ODL service, allowing their partners to free up working capital and grow.

In 2022 alone, Tranglo facilitated transfers exceeding $3.3 billion, with ODL transactions surpassing $2 billion in the first half of the year. Impressively, 80% of these transactions occurred in real-time without any latency issues, showcasing the efficiency of Tranglo's cross-border payments technology, which boasts an impressive 99.982% uptime.

It's crucial to understand that On-Demand Liquidity (ODL) is an integral part of Ripple's RippleNet offering. RippleNet connects hundreds of financial institutions worldwide through a single API, aiming to make money transfers faster, cheaper, and more reliable. ODL harnesses the power of the XRP token to source liquidity during cross-border transactions, offering an alternative to traditional systems.

While the extent to which XRP has influenced the processed volume remains unclear, it's worth noting that XRP's market capitalization currently stands at $27 billion according to CryptoCompare data. Additionally, the XRP Ledger, which underpins XRP, is undergoing significant developments. These upgrades are poised to increase the transaction throughput from approximately 1,500 transactions per second to an impressive 3,400 transactions per second (TPS), further enhancing its capabilities.

One exciting prospect for XRP token holders is the introduction of the XLS-30d amendment, which will integrate a built-in automated market maker (AMM) trading platform into the XRP Ledger. AMMs enable cryptocurrency trading in a permissionless manner using liquidity pools, a departure from traditional order book systems. Liquidity pools are composed of two or more tokens supplied by users and determine token prices through blockchain oracles. Users who contribute tokens to liquidity pools receive a share of the fees collected from each trade, albeit with the risk of impermanent loss.

In addition to the Tranglo-Ripple success story, another blockchain-powered platform has been making headlines with its innovative approach. Rencom Network, which allows crypto-only payments for rental services using its native token RNT, has seen a meteoric rise in value, surging over 1,000% in just a few days. The company's global expansion, including a forthcoming venture into Japan, has been a major driver of this growth.

Rencom Network offers a unique concept that goes beyond traditional property ownership. It provides opportunities for individuals to utilize assets such as residential and commercial spaces, bicycles, and construction equipment seamlessly. Ownership becomes dynamic, enabling asset utilization and rewarding outcomes for users.

Furthermore, Rencom Network received a significant boost when its legal team granted its native token RNT a non-security status. This development adds another layer of significance to the network's recent achievements and emphasizes its commitment to regulatory compliance.

In the ever-evolving landscape of blockchain and cryptocurrency, partnerships like Tranglo and Ripple, as well as the innovations of platforms like Rencom Network, demonstrate the transformative potential of these technologies. As SMEs and investors continue to explore the benefits of blockchain-based solutions, the future looks promising for businesses and individuals seeking more efficient and inclusive financial ecosystems.



bottom of page