Ripple And XRP Could Transform Global Payments, Says MoneyGram CEO
This is not the first time when MoneyGram praises Ripple and XRP.
New insight into the MoneyGram-Ripple partnership
MoneyGram CEO, Alexander Holmes offers some new insight into the company’s partnership with Ripple.
These two firms teamed up in June, and Ripple bought a $50-million stake in the payments giant.
MoneyGram uses Ripple’s XRP-based On-Demand Liquidity in order to move 10% of the daily transaction volume between the US and Mexico. They are also reportedly exploring ODL’s potential in Australia and Asia.
Revolutionizing the payments industry
It’s been revealed by the online publication the Daily Hodl that in a new interview with CNN, Holmes says he now 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.
He continued and said that there’s a problem transforming the business with all this liquidity trapped around the world. Holmes pointed out that this is the main thing exciting about Ripple:
“That’s what’s exciting about their technology platform and all the change they’re trying to drive and all the innovation they’re trying to drive.”
Head over to the original article to find out more details on what he had to say.
The use of ODL is on the rise
Not too long ago, we reported that there are new numbers that are showing the use of Ripple’s XRP-powered cross-border payment product On-Demand Liquidity may be on the rise.
ODL is the former product xRapid, which has been rebranded not too long ago by the San Francisco-based firm.
Ripple is always working hard to promote all of its products and to boost the whole XRP ecosystem.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.