XRP Volume Gets An Important Boost Due To This Catalyst
Ripple and XRP have been in the spotlight a lot this year and the two entities have been really successful so far.
The San Francisco-based company has been making sure to boost the XRP ecosystem a lot.
MoneyGram impacts XRP’s volume
The head of Ripple’s global institutional markets said that the company’s partnership with MoneyGram shows a huge impact on the XRP’s overall trading volume.
Breanne M. Madigan highlights new numbers from CryptoCompare that show the volume of XRP’s pair with the Mexican peso is on the rise.
“New (and notable) data shows that although overall XRP trading volume was down nearly 65%, XRP/MXN volumes on Bitso went up more than 25% – during the same period of time that MoneyGram payments into Mexico using XRP went live. A real use case driving real volume.”
MoneyGram revealed that it officially launched Ripple’s XRP-powered cross-border payment solution xRapid on August second.
MoneyGram CEO said: “I am so excited to announce today that MoneyGram is now live and transacting on the Ripple xRapid platform.”
Alex Holmes continued and explained: “We started executing trades earlier this week and all signs point to this being a tremendously beneficial relationship for all parties involved. We are literally settling currencies in seconds, and to quote my friend Larry, ‘This is really cool.’”
UPU cites the adoption of XRP
The United Nation’s Universal Postal Union (UPU) revealed a report which cited the potential adoption of cryptos like XRP.
This report highlighted the enhancing digitization of postal services around the world, and it’s more than obvious these days that cryptos can lower consumer costs.
“UPU is examining the role that distributed ledger technology (DLT), blockchain and cryptocurrencies can play in the postal industry, as well as the role of the UPU and its members in enabling efficient delivery of services,” according to info from the report.
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.