- New buyers and sellers needed to expand Ripple’s ODL
- Working with Ripple is Fun – Alex Holmes
Alex Holmes, the CEO of MoneyGram, is the second prominent figure to do with crypto that CNN has talked to recently. The first person was the chief of Ripple Brad Garlinghouse. Now, Julia Chatterley has spoken to the head of MoneyGram about several things, including their partnership with Ripple, the use of On-Demand Liquidity (ODL) and XRP.
@jchatterleyCNN tweeted: “More of the conversation with @MoneyGram CEO @walexholmes talking about the @Ripple partnership, corridor expansion, volume growth & maybe one day replacing the SWIFT payment system — “those are large aspirations.” $XRP.”
Ripple’s partnership with MoneyGram is one of the biggest headlines in 2019, with the two firms integrated into their shared quest to aid cross-border remittances. The American fintech company recently disclosed that Ripple made a $20 million investment over its early $50 million equity investment after the successful research of Ripple’s on-demand liquidity added a credible foundation to their partnership.
MoneyGram’s use of Ripple’s On-Demand Liquidity has increased since its launch in July. Holmes stated that volume transactions worth $100 million were finalized a few days back. Though, he emphasizes on the fact that expansion in volume did not depend on MoneyGram alone.
XRP (XRP) Price Today – XRP / USD
He went thus: “We are willing to continue to increase our participation at the platform but certainly others are coming. But the speed at which they come will determine how much volume we can do and in what period.”
He added that for the market to expand, new buyers and sellers are needed to trade XRP on the backend, thus making it a ‘volumetric discussion’ on how swiftly the expansion can occur. Holmes further emphasizes that its partnership with Ripple and the use of XRP has been cordial since it has aided its own goals within the remittance industry.
Working with Ripple is Fun – Alex Holmes
Previously, MoneyGram was condemned by the community after Ripple attained its involvement in the industry with its original investment in the firm. Responding to the criticism, Holmes stated that the partnership is co-dependent as both parties bring something to the table that is valuable to both individuals. He acknowledged the commitment as a mutual partnership, stating that it is a ‘win-win’ situation for both Ripple and MoneyGram.
Holmes acknowledged that working with Ripple is fun since it helps the remittance industry get on new tracks with Ripple and XRP. “One of the most exciting things about it is that we can facilitate the growth of this industry by utilizing our liquidity and our needs, really trying to help grow that business in lockstep with Ripple,” he stated.