A recent report revealed that, the money transfer giant, MoneyGram, has broken its previous record of transactions during the holidays. The major partner of the blockchain giant Ripple, now boasts of a 70% increase, as compared to the previous year.

Globally, all of MoneyGram’s major online markets achieved double-digit transaction growth during the holidays.

MoneyGram pointed out that, approximately 80% of all transactions were made via the use of mobile phones. The overall number of smartphone owners surpasses 3 billion people. This is an indication that there is a large market for seamless cross-border payments.

According to MoneyGram’s CEO Alex Holmes, the company’s new mission is mobilizing the movement of money. He said the success of their mobile app throughout the year demonstrates the value customers place on their global distribution network.

In a recent interview with CNN, Holmes described Ripple’s ability to move as ‘magical’, while praising the innovative nature of XRP. He however revealed that neither he nor his company holds any XRP tokens.

Part I of the interview with @MoneyGram CEO @walexholmes, talking digitization, global growth and the partnership with @Visa Direct on @firstmove. pic.twitter.com/a7iTShIXEf — Julia Chatterley (@jchatterleyCNN) December 17, 2019

MoneyGram will continue to work on the digitalization of its business in 2020. It also has plans to launch new product enhancement, in the likes of Visa Direct. The company became the first in its field to start using the real-time payment solution by Visa.

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