Ripple and Nepal Join Forces for Next-Level Cross-Border Payouts and Tranglo a partner of Ripple, has teamed up with Esewa Money Transfer to enhance cross-border payouts in Nepal. This collaboration comes at a crucial time when the country’s remittances have skyrocketed to over $8 billion. The joint effort aims to facilitate smoother and more efficient money transfers, benefiting individuals sending and receiving funds across borders in Nepal.
In the rapidly evolving world of cryptocurrencies and blockchain technology, Ripple has been a key player, offering innovative solutions for cross-border payments. Recently, Ripple has forged a groundbreaking new alliance that aims to elevate cross-border payouts in Nepal, bringing greater financial inclusion and efficiency to the region.
Ripple and Nepal Join Forces for Next-Level Cross-Border Payouts
Tranglo, a trusted partner of Ripple, has just announced an exciting new collaboration that will greatly enhance cross-border payment services. They are joining forces with Esewa Money Transfer, a leading remittance business in Nepal.
In a recent press statement, Tranglo proudly unveiled their latest offering, which aims to bring omnichannel, digital payments for remittances to Nepal. This partnership will allow Tranglo global partners to send transactions directly through the eSewa digital wallet to beneficiaries in Nepal. The goal is to increase the efficiency of payouts to the country and revolutionize the financial landscape.
Tranglo partnership with Esewa comes after their successful collaboration with Al Ansari Exchange, one of UAE major personal remittance businesses. The addition of Esewa will further strengthen Tranglo cross-border payout services within RippleNet, the payment network curated by Ripple.
Esewa Money Transfer has emerged as Nepal’s fastest-growing remittance service provider and is a subsidiary of the Fintech conglomerate F1Soft Group. The collaboration will also extend to Foneremit, F1Soft’s core remittance solution, with direct API access.
The press statement highlighted the significant increase in remittance to Nepal, with over $8 billion received in the first 11 months of the current fiscal year. This represents a remarkable 13% growth compared to the previous year. Jacky Lee, Tranglo Group CEO, expressed enthusiasm for the partnership and recognized that remittances account for over 20% of Nepal’s GDP. Improving cross-border payment processes is thus a top priority for them.
Both Tranglo and F1Soft Group are excited about the collaboration, with a shared vision of creating a cashless economy. Leveraging Tranglo’s cross-border payment technology, they aim to continually enhance their services and adapt to the rapidly evolving financial landscape.