MoneyGram Embraces Ripple’s On-Demand Liquidity Solution

News / 06.02.2020

MoneyGram is utilising On-Demand Liquidity, which is a cross-border payment solution powered by Ripple. The On-Demand Liquidity is now available in the five global payment corridors. Recently, Ripple’s senior official, Asheesh Birla noted the firm’s progress with their corporate partners. On the other hand, Bitso also moved $18 million of remittance through XRP at the end of 2019, and its growth is currently at 15% to 20% weekly.

Birla also pointed out that MoneyGram is now active in five corridors, using On-Demand Liquidity. Currently, 10% of MoneyGram’s most prominent corridor, the US to Mexico, is moving over to XRP and ODL.

The Currencies on the Ripple Liquidity Solution

There are five currencies supported on the XRP-based liquidity solution. The five currencies got added in the last quarter of 2019, according to Ginger Baker of Ripple. The five currencies include the US Dollar, the Mexican Peso, the Philippine Peso, the Euro, and the Australian Dollar.

As per reports, on On-Demand liquidity, XRP is currently the leading trading pair, with the Mexican Peso on Bitso. Simultaneously, the 24-hour volumes of XRP/MXN and BTC/MXN were $8.4 million and $3.0 million respectively.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.