MoneyGram is now using Ripple’s XRP-powered cross-border payment solution, On-Demand Liquidity, in five payment corridors across the globe.
In a recent Ripple webinar, Asheesh Birla, Ripple’s senior vice president of product management and corporate development, touches on the progress the San Francisco-based company 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.”
The XRP-based liquidity solution is currently live with the US dollar, the euro, the Mexican peso, the Philippine peso, and the Australian dollar, which the company recently added in the fourth quarter of 2019, according to Ginger Baker, Ripple’s senior director of product.
Due in large part to On-Demand Liquidity, XRP is now the top trading pair with the Mexican peso on Bitso, reports CoinMarketCap, with $8.4 million in 24-hour XRP/MXN volume compared to $3.0 million for BTC/MXN, at time of publishing.
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