Sept 18, 2024, Singapore – Tranglo is pleased to announce its strategic expansion into Brunei, further solidifying its presence in Southeast Asia.
This move is part of Tranglo’s ongoing commitment to enhance financial inclusion across the region, home to nearly 700 million people.
Tranglo’s entry into Brunei will enable faster, more secure cross-border transactions, aligning with Brunei’s digital transformation goals and ASEAN’s vision of a more connected economic community.
In 2023, approximately 30% of the workforce in Brunei were foreigners, mainly citizens from neighbouring countries such as Malaysia, Indonesia, and the Philippines. Additionally, its import value stood at USD 8.85 billion in 2022, with the top import partners being Malaysia, UAE, and China.
With Tranglo Connect, transfers to individuals and businesses in Brunei can be made via eight supported banks, including Baiduri Bank Berhad, Bank Islam Brunei Darussalam, and Tabung Amanah Islam Brunei.
Tranglo Group CEO Jacky Lee said, “Our expansion into Brunei reflects our commitment to driving financial innovation and inclusion across Southeast Asia while supporting the integration of the ASEAN financial system integration.
“We aim to streamline cross-border transactions in Brunei, benefiting individuals and businesses.”
Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. Tranglo seamlessly integrates payout and partner services, unifying the end-to-end process with direct API access. With Tranglo Connect, companies can make payments to over 80 countries reliably and securely.
About Tranglo
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittances and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, and London. Our global network spans 100+ countries, 250+ mobile operators, 1,500+ banks/wallets and 60 cash pickup services with thousands of touchpoints. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We offer enhanced cross-border payout services with even broader coverage through Ripple Payments. For more information, visit www.tranglo.com or connect via LinkedIn, Twitter or Facebook.