UniTeller is a international Remittance and Payment Processing Services for individuals and businesses that move funds internationally with access to over 175,000 locations worldwide.
UniTeller based in the United States, has extended its remittance services to more customers in Asia Pacific by partnering with Malaysian cross-border payments specialist Tranglo. The partnership with Tranglo will allow UniTeller to further expand its services in 13 Asia Pacific markets including Bangladesh, India, Indonesia and Nepal. This will also add more than 58,000 cash pick-up points, more than 1,100 account deposit banks and 9 e-wallet platforms to its existing paying network.
Ripple has agreed to acquire 40% of Asia’s leading cross-border payments specialist Tranglo. This partnership enables Ripple to meet growing customer demand in the region and expand the reach of RippleNet’s On-Demand Liquidity (ODL) service — which uses the digital asset XRP to instantly send money and reduce working capital needs.
As a pioneer for cross-border payment services, Tranglo will play a critical role in supporting existing corridors — such as the Philippines — and introducing new ODL corridors within its current network. As Ripple broadens its ODL footprint in the region, RippleNet customers using ODL will also be able to leverage Ripple’s Line of Credit to free up working capital and scale cross-border payments into more markets than ever before. Tranglo will continue to provide and expand its current payment services to make cross-border transactions faster, cheaper and more secure for its customers.
UniTeller has had a presence in Asia for two decades and has been rapidly expanding its network to cover more than 90,000 paying locations in the region.
“This partnership with Tranglo is a great step forward in our expansion plan for Asia Pacific this year. Collaboration has always been an important part of our strategy.
By partnering with like-minded cross-border payments companies, we can integrate international paying networks and combine our technological strength and local market knowledge to make an even greater impact on the industry than what each of us can achieve individually.”
said Alberto Guerra, Chief Executive Officer of UniTeller.
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US-Based Remittance Firm @UniTeller Partners @Tranglo to Expand in 13 APAC Markets
The collaboration also gives UniTeller access to @Ripple‘s network which is set to acquire a 40% stake in Tranglohttps://t.co/Kj7txy9vrs via @FintechNewsMy
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) December 2, 2021