Cross-border payments company Tranglo offers enhanced cross-border payments services through RippleNet in 120 countries, 650 mobile operators, 2,200 banks and wallets, and 140,000 cash pickup points.
At the same time, Ripple’s global payment network will also provide instant payment services to the United Arab Emirates (UAE), the second largest economy in the Arab world.
In a recent tweet, Tranglo noted that it is adding the UAE to its Connect Network, a solution that will provide businesses with instant settlement, low-cost transactions, and more.
Earlier this year, cross-border settlements in the UAE grew by 8.2% in the first quarter of 2022. The development has prompted Abu Dhabi Commercial Bank to forecast that remittances in the country will grow by 6 percent by the end of the year.