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.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
