CoinWrath
  • News
    • Bitcoin News
    • Altcoin News
    • Regulations
  • Contact
  • Disclaimer
No Result
View All Result
CoinWrath
  • News
    • Bitcoin News
    • Altcoin News
    • Regulations
  • Contact
  • Disclaimer
No Result
View All Result
No Result
View All Result
CoinWrath
Home Adoption

Moneygram CEO: 10% of US/Mexico Remittance Uses RippleNet On-Demand Liquidity

Joel Bonga by Joel Bonga
November 9, 2019
in Adoption, News
0
0
SHARES
26
VIEWS
Share on FacebookShare on Twitter

Nearly 6 months on from when one of the world’s largest money transfer companies made its plans to implement RippleNet’s On-Demand Liquidity (ODL) solution public, the company’s chairman and CEO, Alex Holmes, announced that the company – at its current state- moves 10% of all transactions between Mexico and the US via ODL.

During his on stage announcement at Swell 2019, Holmes also made it clear that the MoneyGram plans to spread into four more remittance corridors by the time 2019 comes to a close. When speaking to Ripple CEO, Brad Garlinghouse, Holmes made note of the current state of global remittance and how the use of new innovations like Blockchain and Cryptocurrency are being leveraged by MoneyGram to bolster its already sure-footed stance as an international money transfer institution.

“What has amazed me the most is the amount of pressure that legacy players face. The fundamental challenge of moving money around the world is that there isn’t a lot of coordination between financial institutions and there should be more solutions to connect all of these pieces. More and more companies are looking to make the economy move like it should,” Said Holmes.

In order to better position MoneyGram in this space, Holmes and the rest of the Moneygram team have started to experiment with the possible application of newer technology to help bridge the gap between the current state of international remittance, and consumer demand for transparent, cost-effective and instant cash transfers.

“We’re migrating our legacy systems to the cloud and looking at how we can use blockchain distributed ledger technology to improve our core systems,” as Holmes elaborated.

In the business of global remittance, MoneyGram built its reputation on the efficacy of its global liquidity and settlements engine, through which customers are able to send funds to and from 200+ regions. For Holmes, the partnership with RippleNet is represents mutuality in their desire to become pioneers in this space.

“What I love about ODL is that we’re completely at the forefront of this technology … We’re able to settle billions of dollars in seconds. The magic really comes from pairing MoneyGram transactions with Ripple’s ODL.” Said Holmes.

Tags: LiquidityMoneygramRipplenet

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Bitcoin Cash Halving: Low Hashrate, Possible 51% Attack

Next Post

Bitcoin Suisse & Worldline Partnership To Bring Crypto Payment To Switzerland

Related Posts

Millennial Generation is More Interested in Bitcoin Than Microsoft & Other Popular Stocks
Adoption

Millennial Generation is More Interested in Bitcoin Than Microsoft & Other Popular Stocks

December 8, 2019
News

ECB Will Issue Digital Euro If Private Sector Fails To Innovate Global Payments

December 5, 2019
News

Danish Court Rules In Favor Of Nordea Bank Barring Employees From Crypto Investing

December 3, 2019
US Judge Mortally Wounds The Notion of Financial Privacy Through Crypto
News

Brian Klein to Represent Virgil Griffith

December 3, 2019
Load More
Next Post

Bitcoin Suisse & Worldline Partnership To Bring Crypto Payment To Switzerland

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

  • News
  • Contact
  • Disclaimer

© 2019 CoinWrath - Cryptocurrency News

No Result
View All Result
  • News
    • Bitcoin News
    • Altcoin News
    • Regulations
  • Contact
  • Disclaimer

© 2019 CoinWrath - Cryptocurrency News

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok