MoneyGram is now using Ripple’s ODL in five payment corridors across the globe.
|- On-Demand Liquidity or ODL is presently live with the US dollar, the euro, the Mexican peso, the Philippine peso, and the Australian dollar.
- Bitso moved $18 million in XRP in the final weeks of December.
The international payment remittance platform, MoneyGram, is now using Ripple’s XRP-powered cross-border payment solution, On-Demand Liquidity (ODL), in five payment corridors across the globe.
In a Ripple webinar, Asheesh Birla, Ripple’s senior vice president of product management, talked about the progress Ripple is making with their corporate partners.
[Bitso] moved $18 million of remittance through XRP in the final weeks of December and that’s been growing at 15-20% per week.
For MoneyGram, they’re now live in five corridors using On-Demand Liquidity. And now, 10% of their US to Mexico [corridor], which is their largest corridor, is moving over to XRP and ODL.
According to Ginger Baker, Ripple’s senior director of product, the XRP-based ODL is presently live with the US dollar, the euro, the Mexican peso, the Philippine peso, and the Australian dollar. Ripple added the Australian dollar towards the end of 2019.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.