MoneyGram Expands Its Use Of Ripple And XRP
MoneyGram was recently in the spotlight when it’s been revealed that the firm just launched a new instant settlement service that uses Visa’s payment rails in order to move money.
From now on, it’s been revealed that the users of FastSend (MoneyGram’s real-time remittance product) can send money by offering the recipient’s name and phone number.
MoneyGram expands its use of Ripple and XRP
Now, it’s been revealed that the global payments giant expands the use of Ripple and XRP.
Recently, CEO Alex Holmes said that MoneyGram plans to launch XRP remittances in some more corridors and utilize RippleNet for account-to-account transfers.
“Our progress on the Ripple partnership has been instrumental in helping us lead the evolution of digital P2P payments… Today, our trading volume continues to grow, and we’re partnering to expand the service to more corridors,” Holmes said.
He continued and explained that “I’m also excited to announce that we are working to integrate RippleNet for account-to-account transfers in 2020. This new integration will further accelerate our progress in accomplishing our vision of real-time global settlements.”
The account-to-account feature
The Daily Hodl reveals that MoneyGram’s account-to-account features are designed to allow customers to transfer money between their bank accounts, even if those are located in various countries around the world.
MoneyGram did not say whether it will use XRP for the account-to-account transfers.
Back in 2019, Holmes was saying that the company is looking at the use of XRP across Australia and Asia.
“We’re looking now in a lot of the Asian markets. So we’re looking at the Philippines, the interface with Australia, having conversations with Japan, other countries,” he said.
He believes that an XRP platform is the best solution.
Other than this, in terms of pricing, XRP is not doing great these days, just like the other coins in the crypto market.
XRP is trading in the red today, and at the moment of writing this article, XRP is priced at $0.237579.
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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.