Global XRP Payments Network Now Available in Five Corridors
MoneyGram has started utilizing a cross-border payment solution powered by Ripple known as On-Demand Liquidity. It is being applied in five payment corridors worldwide.
Ripple’s senior official (Asheesh Birla) spoke recently during a webinar. Birla noted the firm’s progress with their corporate partners. It was noted that Bitso was able to move $18 million of remittance via XRP in the end of 2019 and its growth has been at the rate of 15 to 20 percent weekly.
Birla continued that MoneyGram is now active in five corridors using On-Demand Liquidity. Currently, 10 percent of MoneyGram’s biggest corridor (United States to Mexico) is moving over to XRP and ODL.
Five currencies are supported on the XRP-based liquidity solution (US dollar, the euro, the Mexican peso, the Philippine peso, and the Australian dollar). The five currencies were added in the last quarter of last year, said Ginger Baker at Ripple.
According to Reports, based on On-Demand Liquidity, XRP is currently the leading trading pair with the Mexican peso on Bitso. As at press time, the 24-hour volumes of XRP/MXN and BTC/MXN were $8.4 million and $3.0 million, respectively.
Featured image courtesy of Shutterstock. Source: Cryptopress.