Tranglo, a global leader in cross-border payments, has expanded its services across the Gulf Cooperation Council (GCC), extending its reach to over 31 million migrant workers in the region. This move aims to enhance financial access for workers, particularly those from South and Southeast Asia, who rely heavily on remittances to support their families back home.
According to official sources, remittance flows to low- and middle-income countries (LMICs) totaled around USD 626 billion in 2022, with GCC countries contributing over USD 120 billion. Projections for 2024 show continued growth in remittances from the GCC, driven by stable oil prices and expanded social protections for migrant workers.
Tranglo initially entered the GCC market through the United Arab Emirates in 2023, offering direct bank account transfers. With its expansion into Oman, Qatar, and Bahrain, Tranglo aims to provide quick, affordable cross-border payments, allowing individuals to send funds via cash pick-up, which can be collected nearly instantly in local currencies such as the Omani Rial (OMR), Qatari Riyal (QAR), and Bahraini Dinar (BHD).
Tranglo officials emphasized that the expansion addresses the unique needs of the GCC region, offering safe and cost-effective remittance solutions for migrant workers. The move is aligned with Tranglo’s commitment to promoting financial inclusion and simplifying remittance processes.
Operating through its proprietary platform, Tranglo Connect, the company provides end-to-end integration for financial institutions and businesses, offering direct API access for secure transactions to over 100 countries. Tranglo has established itself as a hub for remittances, mobile payments, and business payments since its founding in 2008, with offices in Kuala Lumpur, Singapore, Jakarta, and London. Its global network connects over 250 mobile operators, 1,500 financial institutions, and 60 cash pickup services.
In partnership with Ripple, Tranglo leverages blockchain technology to offer enhanced cross-border payment solutions, extending its coverage and increasing efficiency across the global payment network.
