April 25, 2024

MoneyGram is testing Ripple for money transfers!

MoneyGram tests Ripple ODL solution for international money transfersMoneyGram is testing Ripple for money transfers!
AuthorNikolay BondarchukMoneyGram is testing Ripple for money transfers!
MoneyGram serviceuses the Ripple On-Demand Liquidity (ODL) solution for money transfers between the USA and Mexico. 10% of transactions between these countries go through XRP.

According to the chairman and CEOMoneyGram Alex Holmes, the company plans to continue to use the Ripple solution. By the end of the year, ODL will be used for four new remittance destinations.

“We can transfer billions of dollars in a few seconds. It's real magic when MoneyGram uses the Ripple ODL solution for transactions, ”said Holmes.

Let us remind you that in the middle of this yearRipple invested $50 million in the development of the MoneyGram service. $30 million went to purchase MoneyGram shares, and another $20 million will be used to develop the service over two years.

Testing Ripple technologies for internationalMoneyGram transfers began at the beginning of 2018. Then the company tested the Ripple xRapid solution, which allows you to exchange currencies through XRP in real time

source: https: //bits.media/moneygram-testiruet-reshenie-ripple-odl-dlya-mezhdunarodnykh-denezhnykh-perevodov/