Tranglo, a cross-border payment firm, has announced the launch of its brand new payment corridor to Mongolia.
The company said in a statement that it will aim to improve the cross-border payment services in Mongolia via a single connection to regional corridors and local partners.
Tranglo’s payment channels in Mongolia include direct-to-bank transfers and cash pickups.
Additionally, ongoing improvements that may make their way there include blockchain integration through RippleNet, as a result of its partnership with Ripple.
Tranglo helps financial institutions and businesses pay globally through Tranglo Connect, its proprietary cross-border payments solution.
It integrates payout and partner services seamlessly, unifying the end-to-end payment process.
With Tranglo Connect, companies can immediately make payments to over 23 countries reliably and securely.
Jacky Lee, CEO of Tranglo said,
“The entry into Mongolia is in line with our plans this year. Mongolia is a key market with huge potential. It received about US$550 million in remittances last year against the backdrop of a global pandemic.
Moving forward, we aim to transform the way Mongolians receive remittances by bridging the payment gaps with our technology.”