The payment system across the borders is now improving due to the aid of blockchain technology. Many crypto projects are running to improve the transactional system across the borders. Out of these projects, Ripple is on the top who has made outclass agreements with giant payment providers across the world.
Recently, the CEO of MoneyGram Alexander Holmes has said something great about the partnership with Ripple and about the Ripple Company in paving a new path that could change everything in the payment world.
Ripple partnered with MoneyGram in June and invested almost $50 million in the payment firm. Both are working efficiently since then with a positive outcome. MoneyGram is utilizing the XRP underlying On-Demand Liquidity (ODL) to make transactions. The 10% transactions between the US and Mexico are done through Ripple’s On-Demand Liquidity (ODL) which is a great achievement.
Ripple could transform the Industry
During his latest interview with CNN, Holmes says that Blockchain and Ripple have something in itself that could transform the whole payments industry.
What’s interesting about Ripple and what’s happening in the blockchain space is for the first time, there’s a technology available that has the potential to truly transform that capability and actually move money with data, which to me is kind of magical in a lot of ways because it’s really what the future is all about.
The XRP is now the second-largest cryptocurrency by market volume and has the best liquidity in the crypto world. The platform is designed in such a way to create a better framework for transactions. Moreover, the main vision or the agenda of the company is to give a new payment system for users.
Ripple has 300 partners
For this purpose, they have already made partnerships with the 300 giant companies in the finance industry. Out of these 300 partners, most are banks.
Holmes then comments on ODL that it allows a company to regulate payments very secure and safe. He further said that it will be more cost-effective than in the past.
He said:
So if you’re able to take that $300 that consumer wants to send and actually settle it instantly, real-time and give the same rate to MoneyGram that you’re giving the customer, it’s actually a very interesting opportunity to streamline and take costs out.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
