MoneyGram CEO Said $100 Million In Total Volume Was Pushed Via Ripple And XRP

MoneyGram is really fond of Ripple, and it was recently reported that MoneyGram’s CEO, Alexander Holmes, said he believes Ripple, XRP, and blockchain technology, in general, have the potential to transform the payments industry.

“What’s interesting about Ripple and what’s happening in the blockchain space is for the first time, there’s a technology available that has the potential to truly transform that capability and actually move money with data, which to me is kind of magical in a lot of ways because it’s really what the future is all about,” Holmes said.

MoneyGram sent $100 million via ODL

Now, Holmes said that the payments giant sent $100 million in total volume via Ripple’s XRP-based payment solution ODL.

He revealed this massive milestone in the second part of an interview with CNN.

“We went live with Ripple at the end of July. Since then, on a cumulative basis, we just the other day surpassed $100 million in total volume that we’ve pushed through the platform.”

According to Holmes, MoneyGram plans to expand its use of the liquidity solution.

The Daily Hodl also points to the fact that there’s a catch and in order to expand this platform and introduce new corridors, Holmes said that Ripple will have to bring new clients on board and boost the volume in order to make sure that there is actually enough liquidity.

“What’s interesting about what Ripple is trying to do is they really are trying to take on some of the older processes, traditional bank transfers and traditional Swift transfers in terms of how companies move dollars through banks or however that may be. So what’s happening right now is these markets have to be built…” he said.

Check out the video in order to learn what more he had to say on the issue.

In terms of pricing, XRP is one of the few coins trading in the red today.


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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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