Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

MoneyGram CEO Says $100 Million in Total Volume Pushed Through Ripple and XRP

by Daily Hodl Staff
December 19, 2019
in Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

MoneyGram CEO Alexander Holmes says the payments giant has now sent $100 million in total volume through Ripple’s XRP-based payment solution, ODL.

Holmes revealed the million-dollar milestone in part two of an interview with CNN.

“We went live with Ripple at the end of July. Since then, on a cumulative basis, we just the other day surpassed $100 million in total volume that we’ve pushed through the platform.”

According to Holmes, MoneyGram plans to expand its use of the liquidity solution.

But there’s a catch. In order to expand the platform and introduce new corridors, Holmes says Ripple will have to bring new clients on board and boost the volume to ensure that there’s actually enough liquidity.

ADVERTISEMENT

“What’s interesting about what Ripple is trying to do is they really are trying to take on some of the older processes, traditional bank transfers and traditional Swift transfers in terms of how companies move dollars through banks or however that may be. So what’s happening right now is these markets have to be built…

But like any efficient market, you need a buyer and a seller. So if we’re buying and selling, we need others out there as well buying and selling on the back end.

Holmes says MoneyGram is still experimenting with the technology, which uses XRP as a bridge between fiat currencies.

“We’re doing things with Mexican peso, Filipino peso, Australian dollar. But it’s still very small. And so the impact today isn’t where I think it will be in five to ten years from now. But where it is today is actually enabling us to think about how we can do this more innovatively, how we can actually drive improvement and what it should and could look like in the coming days and months.

It’s very, very new. So this is nascent technology. We’re learning a lot as we roll this out and really in some respects, it’s changing and innovating as we move along. It’s new. It’s very different. But it’s certainly providing a lot of the tangible results that we want to see as we drive it forward.”

Ripple and MoneyGram partnered back in June, and Ripple recently completed its commitment to buy a $50-million stake in the company.

More of the conversation with @MoneyGram CEO @walexholmes talking about the @Ripple partnership, corridor expansion, volume growth & maybe one day replacing the SWIFT payment system — "those are large aspirations." 😃 $XRP pic.twitter.com/ACoxowG8yU

— Julia Chatterley (@jchatterleyCNN) December 17, 2019

ADVERTISEMENT
Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,305.00
$49,305.00
1.66%
Ethereum
$1,545.68
$1,545.68
0.53%
Binance Coin
$228.79
$228.79
0.47%
Polkadot
$34.05
$34.05
3.7%
Cardano
$1.18
$1.18
6.73%
XRP
$0.463216
$0.463216
1.98%
ADVERTISEMENT

Spotlight

  • Top Analyst Warns Bitcoin at Last Line of Defense – Here Are the Crucial Levels To Watch
    February 27, 2021
  • New Business Opportunities Are Ushering in the Next Big Wave of NFTs – Forecast for 2021
    March 3, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • Top Ripple Executives Asking Federal Judge To Dismiss SEC Lawsuit
    March 5, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.