Ripple to acquire a 40% stake in Tranglo.

Ripple, a provider of enterprise blockchain solutions for global payments, agreed to acquire a 40% stake in Tranglo, a cross-border payments specialist. Completion of this transaction is subject to regulatory approval and customary closing conditions and is expected to occur in 2021. Financial terms were not disclosed. "Tranglo has always prided itself on making cross-border transactions faster, cheaper and more secure. By partnering closely with Ripple and introducing On-Demand Liquidity to new markets, we aim to further that ambition to provide accessible and equitable financial services to the masses," Jacky Lee, Tranglo Chief Executive Officer.