{"id":19804,"date":"2019-11-09T15:37:01","date_gmt":"2019-11-09T14:37:01","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=19804"},"modified":"2019-11-09T15:37:01","modified_gmt":"2019-11-09T14:37:01","slug":"ripple-xrp-moneygram-processes-10-of-its-transactions-between-mexico-and-us-via-ripples-payment-solution-odl","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ripple-xrp-moneygram-processes-10-of-its-transactions-between-mexico-and-us-via-ripples-payment-solution-odl\/","title":{"rendered":"Ripple [XRP] MoneyGram Processes 10% of Its Transactions Between Mexico and US Via Ripple\u2019s Payment solution ODL"},"content":{"rendered":"
According to a <\/span>publication<\/span><\/a><\/strong> by Ripple insights on November 8, MoneyGram chairman and CEO <\/span>Alex Holmes<\/span><\/strong>, at Ripple\u2019s <\/span>Swell 2019<\/span><\/strong> conference in Singapore, said that MoneyGram used Ripple payment solution called <\/span>On-Demand Liquidity<\/span><\/a><\/strong> in about 10 percent of its transaction made between US and Mexico corridor and planned to expand into four more corridors by the end of this year.<\/span><\/p>\n During the conference, in a conversation with the Ripple\u2019s CEO Brad Garlinghouse<\/a><\/strong>, he also discussed the current landscape of the cross-border payment industry, benefits of using ODL, and how blockchain and digital assets are being leveraged within MoneyGram.<\/span><\/p>\n According to Alex Holmes, over the last 10 years, the remittance industry has changed a lot due to increased competition in the space. He stated:<\/span><\/p>\n \u201cWhat has amazed me the most is the amount of pressure that legacy players face. The fundamental challenge of moving money around the world is that there isn\u2019t a lot of coordination between financial institutions and there should be more solutions to connect all of these pieces. More and more companies are looking to make the economy move like it should. <\/span><\/em><\/p>\n Despite any challenges in today\u2019s landscape, whether political or economic, money continues to move and every industry must be omnipresent and understand what their customers want.\u201d<\/span><\/em><\/p>\n <\/p>\n Ripple\u2019s On-Demand Liquidity payment solution facilitates global payments with less cost and offers real-time transactions. ODL allows to use<\/span> XRP to bridge two currencies in under three seconds, ensuring payments are quickly sent and received in local currency on either side of a transaction.<\/span><\/p>\n