- Remittance Settlement is Swift With Ripple’s ODL – MoneyGram CEO
- MoneyGram CEO Commend Ripple’s ODL
During the Ripple’s Swell event in Singapore, the head of MoneyGram Alex Holmes stated that 10% of all operations between the US and Mexico are running on On-Demand Liquidity and XRP. The head of MoneyGram during Ripple’s Swell event in Singapore stated that 10% of all operations between the U.S and Mexico are running on On-Demand Liquidity and XRP. Earlier this year, during summer, MoneyGram, one of the world’s biggest remittance operators began the implementation of Ripple-develop On-Demand Liquidity (ODL) Product previously known as xRapid.
Before this period, Ripple has acquired a huge stake at MoneyGram and now at the Swell conference, Alex Holmes, the chief executive states that as they have begun to send Remittance to Mexico using ODL and XRP, confirming that they are already doing 10% of all remittance transactions on On-Demand Liquidity.
On Ripple’s Twitter page, the company stated, “New on Insights: MoneyGram CEO Alex Holmes on the current remittance industry landscape, how blockchain and digital assets are being leveraged within MoneyGram and the benefits of using.” Commenting further on this, Holmes stated that by the end of the year, Ripple and MoneyGram plan to expand the use of ODL to four other global directions.
MoneyGram CEO Commend Ripple’s ODL
Alex Holmes, the CEO of MoneyGram while speaking on the benefits of Ripple’s new product, he said: “What I love about ODL is that we’re completely at the forefront of this technology … We’re able to settle billions of dollars in seconds. The magic really comes from pairing MoneyGram transactions with Ripple’s ODL.”
He further explained that the operators who work with remittance have to advance as the competition in that sphere has increased severely over the last decade. Presently, MoneyGram is one of the first companies who is testing with new technologies. MoneyGram is also using a cloud service apart from Ripple’s ODL to see how it can be of benefit to their customers, Apart from Ripple’s ODL, they are also using a cloud service to see it can be beneficial to their customers.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.220
The CEO of Ripple, Brad Garlinghouse in an interview stated that some time ago, Alex Holmes called him and left a review on ODL, stating that Ripple was moving with ODL at a slow pace and encouraged that ODL should be used on other countries not only Mexico. Recently the U.S retail giant Walmart has gone in partnership with MoneyGram and Ria Ripple-backed companies to improve its Walmart payment system that links its 4,700 stores in the U.S.