TransferGo, a UK-based money transfer company, is set to enhance its cross-border payment capabilities by transitioning to Ripple’s On-Demand Liquidity (ODL) solution—a cutting-edge financial technology leveraging XRP, the third-largest cryptocurrency by market capitalization. This strategic move underscores the growing adoption of blockchain-powered infrastructure in modern remittance services, aiming to deliver faster, cheaper, and more scalable international transactions.
Expanding Partnership with Ripple
Initially partnering with Ripple in September 2018, TransferGo began using RippleNet to facilitate rapid fund transfers for Indian migrant workers sending money home. The integration enabled transactions to settle in minutes rather than days—a transformative improvement over traditional banking rails.
Now, the collaboration has expanded significantly. TransferGo now allows senders across Europe to transfer funds directly into recipients’ bank accounts in India, all powered by Ripple’s network. This expansion strengthens TransferGo’s presence in India—one of the world’s largest remittance markets—and supports its mission to provide accessible, low-cost financial services.
Daumantas Dvilinskas, co-founder and CEO of TransferGo, emphasized the competitive advantage Ripple brings: “India is the largest global remittance market, and Ripple gives us a significant edge. We now process millions of pounds in transactions annually.”
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Overcoming Legacy Infrastructure Challenges
Before adopting RippleNet, TransferGo faced significant technical hurdles. Each integration with a banking partner required custom development due to differing technology stacks. These one-off integrations consumed substantial engineering resources and extended deployment timelines.
“Every integration was unique, time-consuming, and resource-heavy,” Dvilinskas explained. “With RippleNet, we gained scalability—just one integration unlocks access to multiple partners. We don’t have to rebuild the wheel every time.”
This shift not only streamlined operations but also laid the foundation for future growth. By reducing dependency on legacy systems, TransferGo can focus on innovation and customer experience rather than backend complexity.
Accelerating Transactions with On-Demand Liquidity (ODL)
While RippleNet improved connectivity, ODL takes efficiency further by using XRP as a bridge currency for real-time settlement. Instead of pre-funding accounts in destination countries—an expensive and capital-intensive practice—ODL enables instant conversion and settlement across borders.
For TransferGo, this means lower operational costs and reduced liquidity requirements. These savings are passed directly to customers: “We’re helping people save up to 90% on traditional cross-border transfer fees,” said Dvilinskas.
The benefits extend beyond cost. With ODL, transaction times drop from hours or days to seconds, meeting rising consumer expectations for speed and transparency in digital finance.
Ripple’s Growing Ecosystem
Ripple recently announced that its network now serves over 300 financial institutions globally. Among them, more than 20 actively use ODL for cross-border settlements. Notable adopters include:
- MoneyGram – One of the largest money transfer companies in the world.
- Viamericas – A remittance provider focused on Latin American corridors.
- FlashFX – An Australian fintech offering low-cost international transfers.
- GoLance – A platform connecting employers with freelancers across borders.
- Interbank Peru – A financial services provider enhancing regional payment efficiency.
This growing client base reflects increasing confidence in blockchain-based solutions for real-world financial challenges.
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TransferGo’s Market Position and Compliance
Founded in 2012, TransferGo has established itself as a reliable player in the global remittance space. It currently supports 22 currencies across 47 countries and operates under the regulatory oversight of the UK’s Financial Conduct Authority (FCA), ensuring compliance with anti-money laundering (AML) and consumer protection standards.
Its focus on emerging markets—particularly India, Eastern Europe, and Southeast Asia—aligns well with Ripple’s vision of creating an Internet of Value, where money moves as freely as information.
Core Keywords Integration
Throughout this evolution, key themes emerge that resonate with both users and search engines:
- Cross-border payments
- Blockchain remittance
- XRP-powered transfers
- Ripple ODL
- Fast international money transfer
- Low-cost remittance
- Fintech innovation
- Digital asset settlement
These keywords naturally reflect user search intent around affordable, fast, and secure international money transfers—areas where TransferGo and Ripple are setting new benchmarks.
Frequently Asked Questions (FAQ)
Q: What is Ripple ODL?
A: Ripple’s On-Demand Liquidity (ODL) uses XRP as a bridge currency to enable instant, low-cost cross-border payments without the need for pre-funded accounts.
Q: How does TransferGo use blockchain technology?
A: TransferGo leverages RippleNet for network connectivity and is transitioning to ODL for real-time settlement using XRP, significantly reducing transaction times and costs.
Q: Is TransferGo safe and regulated?
A: Yes, TransferGo is authorized and regulated by the UK Financial Conduct Authority (FCA), ensuring compliance with financial regulations and consumer safeguards.
Q: Can I send money from Europe to India using TransferGo?
A: Yes, TransferGo allows users across Europe to send funds directly to bank accounts in India through its expanded partnership with Ripple.
Q: How much can I save using ODL-powered transfers?
A: According to TransferGo’s CEO, customers can save up to 90% compared to traditional cross-border transfer fees.
Q: Does using XRP make transactions risky?
A: While XRP is a digital asset with market volatility, it is used behind the scenes in ODL. End users are not exposed to price fluctuations during transactions.
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The Future of Global Remittances
As consumer demand for speed and affordability grows, traditional banking models are being outpaced by blockchain-driven alternatives. TransferGo’s journey—from fragmented integrations to scalable, ODL-powered transfers—mirrors a broader industry transformation.
With Ripple’s infrastructure enabling near-instant settlements and dramatic cost reductions, companies like TransferGo are redefining what’s possible in cross-border finance. As adoption expands, we can expect more financial institutions to follow suit, integrating digital assets not as speculative instruments but as functional tools for real-world value transfer.
This shift isn’t just technological—it’s economic and social. For millions of migrant workers sending money home, faster and cheaper transfers mean greater financial inclusion and improved quality of life.
In conclusion, TransferGo’s move toward Ripple’s ODL solution marks a pivotal moment in the evolution of global payments—one where innovation meets impact, powered by blockchain and driven by human need.