Ripple and MoneyGram have had a very fruitful partnership for some time now. Through Ripple’s On-Demand Liquidity (ODL), MoneyGram has been able to process over $100 million so far.

In a recent interview with CNN, MoneyGram’s CEO, Alex Holmes, talked about their partnership with Ripple and the plans both parties have in future.



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 pic.twitter.com/ACoxowG8yU — Julia Chatterley (@jchatterleyCNN) December 17, 2019

Holmes said Ripple is trying to take on some of the older processes and traditional methods of money transfer in terms of how people move huge funds. He claimed that, the relationship with Ripple is a mutual partnership and a win-win for both companies. Holmes further revealed that 10% of all cross-border transactions between the Mexican Peso and the Dollar are through Ripple’s ODL.

MoneyGram is currently using Ripple’s XRP in five corridors. Some of which includes the Mexican Peso, Australian Dollar, Philippine Peso, and two others. Holmes said it’s the company’s hope to spread this technology to as many corridors as possible in the near future.

The liquidity index of Ripple recently reached over 1 million. The company has completed a $50 million investment in MoneyGram, and now owns 9.5% of the share. The technology was mentioned in a recent report of the US Consumer Financial Protection Bureau (CFPB).

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