MoneyGram tests Ripple ODL solution for international money transfers
MoneyGram Service uses 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.
Recall that in the middle of this year, Rippleinvested $ 50 million in the development of MoneyGram service. $ 30 million went to buy shares of MoneyGram, and another $ 20 million will be used to develop the service over two years.
Ripple Technology Testing for InternationalMoneyGram transfers began in early 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/