Ripple and MoneyGram “pushing boundaries” with XRP

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Ripple and MoneyGram “pushing boundaries” with XRP

Ripple partnered with MoneyGram, one of the world’s biggest remittance and payment companies in the United States in June 2019. Since then, the two parties have managed to report tremendous growth due to the partnership, and Alex Holmes, the chairman, and CEO of MoneyGram International [MGI] highlighted a few aspects of this growth in a recent interview.

Speaking to CNN’s Julia Chatterley, Holmes noted that 18 months into the partnership with Ripple, the company has reported a 140% increase in new online customers, while a 220% growth with regard to app transactions has also been noted. The payments company also registered 11 straight months of triple-digit cross-border growth.

While the blockchain space also evolves, the two have managed to achieve this target and are now moving to change the world remittances system with on-demand liquidity [ODL]. Holmes believes that the remittance landscape will undergo changes in the coming decade and the on-demand liquidity [ODL] solution to deliver real-time payments has the potential to pave the way.

Holmes talked about the increasing demand from customers to settle payments in real-time and to make that possible it was necessary to hold enough liquidity. Thus, for the company, it was important to have access to liquidity, improving the speed of transactions and throughput.


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