Tranglo, a Malaysian company specializing in cross-border payments, has announced its expansion into the Gulf Cooperation Council (GCC) region by launching its services in Oman, Qatar, and Bahrain.
This expansion comes in response to the growing demand for efficient remittance services in the Gulf region, one of the largest remittance markets in the world. With this move, Tranglo’s payment solutions are now available to over 31 million migrant workers, primarily from South Asia and Southeast Asia, who heavily rely on remittances to support their families.
In 2022, the total remittances to low- and middle-income countries amounted to approximately $626 billion, with more than $120 billion coming from the six GCC countries. Remittances from these countries are expected to grow in 2024, driven by positive oil price forecasts and increased social protection support for migrant workers.
With the addition of these new markets, Tranglo reinforces its commitment to expanding cross-border transaction and remittance services in the region. The company entered the UAE market in 2023, enabling individuals to make direct transfers to bank accounts.
