September 20, 2021

MoneyGram: Ripple's XRP is involved in 10% of our transfers between the USA and Mexico

Head of MoneyGram Alex Holmes said that 10% of transfers between the USA and Mexico are processed by his service using On-Demand Liquidity (ODL) payment solution using Ripple's XRP token.

Speaking at the Swell 2019 conference in Singapore, Holmes added that the company plans to expand the use of ODL by four more payment corridors by the end of the year.

“We can transfer billions of dollars in seconds. The secret of magic lies in combining MoneyGram transactions with ODL from Ripple »- emphasized Holmes.

According to BitInfoCharts, the volume of XRP transactions in recent months is much higher than in Bitcoin and Ethereum networks:

MoneyGram: Ripple's XRP is involved in 10% of our transfers between the USA and Mexico

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Despite the seemingly active use of XRP, the price dynamics of this token is one of the worst among the top assets:

MoneyGram: Ripple's XRP is involved in 10% of our transfers between the USA and Mexico

Data: CoinPaprika

Ripple and the American company MoneyGram (NYSE: MGI) concluded their first agreement at the beginning of 2018. The xRapid product based on the XRP token was launched by MoneyGram this summer.

Earlier, Ripple CEO Brad Garlinghouse said his company plans to make many more third-party acquisitions.