The comments of Bitso’s Head of Finance show that the partnership between Ripple and the crypto exchange Bitso is growing well. Recently, Bárbara González Briseño, who is currently the Head of Finance at major Mexico’s crypto exchange Bitso, has admired Ripple and has given his view on her company’s partnership with Ripple. She finds Ripple’s ODL service amazing.
Mexico’s largest crypto exchange Bitso was developed in the year 2014 and the backers that the crypto exchange have are Ripple, Coinbase, Digital Currency Group (DCG), and Pantera Capital.
Recently, Bitso’s Head of Finance had an interview with Ripple. In the interview, she talked about how Ripple has helped her company and how the partnership with Ripple has proved advantageous for her company. While talking about the benefits that her company got from Ripple, Bárbara said:
“With help from Ripple, Bitso is the now the largest exchange in Latin America. We have the world’s largest liquidity of Mexican pesos to digital assets and are MoneyGram’s key exchange partner for remittances into Mexico.”
During the interview, Bárbara González Briseño shared her experience in the world of finance as a corporate customer and said how she had to go through a series of processes to make a transfer. She found the traditional wire transfers very slow and expensive. According to her, bank wire transfer is not a good option for cross-border payments. She says that it is a huge problem for retail customers such as families who rely on remittances.
Ripple’s ODL service is amazing
She says that there was a need for a solution that could help in removing this problem. That is where she finds Ripple’s XRP-powered On-Demand Liquidity (ODL) service amazing and impressive. She stated:
“ODL is amazing. The transaction happens instantly, is much more cost-effective and you know exactly when the recipient receives it. Just a few months after starting work with Ripple, we were able to offer a fully functioning solution to our partners. Since July 2019, we’ve seen a major increase in adoption as well as the volume of transfers we’re facilitating.”
Her whole discussion revolved around her company’s partnership with Ripple. She also said that Ripple is now pushing to take over the remittance corridor from the US to Mexico.