Crypto firm Ripple to take 40% stake in Asian payments specialist Tranglo
Crypto firm Ripple Labs Inc. is planning to take a 40% stake in Asian cross-border payments specialist Tranglo.
Ripple said in a statement Tuesday that the tie-up will help meet demand for the use of its affiliated token XRP in transactions. The announcement comes about a week after Brooks Entwistle, a former executive at Goldman Sachs Group Inc. and Uber Technologies Inc., became Ripple's managing director of Southeast Asia.
