MoneyGram has already transferred $ 100 million in XRP

According to Alexander Holmes, CEO of MoneyGram, has sent the payment giant is now $ 100 million in total volume over the XRP-based payment solution On-Demand Liquidity (ODL) of Ripple.

Holmes unveiled the million-Dollar milestone in the second part of an interview with CNN.

We went the end of July, with Ripple live. Since then, we have achieved the other day, on a cumulative Basis, a total volume of over $ 100 million that we have brought through the platform.

According to Holmes, MoneyGram’s planning, the use of the liquidity solution to expand. But there is a catch. In order to expand the platform and new corridors must Ripple get, according to Holmes new customers on Board and increase the volume, this is actually enough liquidity is available.

Interesting is what Ripple intends to do, is that you really try to take on some of the older processes, traditional Bank transfers and traditional Swift Bank transfer, which relates to the way companies move Dollars through banks or whatever that may be. So what happens in the Moment, is that these markets must be established. But, like any efficient market, you need a buyer and a seller. If so we buy and sell, we also need others out there, on the back of buy and sell.

Holmes also says that MoneyGram is experimenting with the technology, the XRP as a bridge between Fiat currencies uses.

We make things with the Mexican Peso, the Philippine Peso, the Australian Dollar. But it is still very small. And so the impact today is not where I think they will be in five to ten years. But where she is today, it allows us to reflect on how we can this innovative can do, how we are actually improvements to take it forward and how you in the coming days and months should look like and could.

This is very, very new. So, this is an emerging technology. We learn a lot, while we introduce you to, and, in certain respects, changed and innovated in the course of our development. You is new. It is very different. But it certainly delivers on many of the tangible results we want to see, if we promote it.

Ripple and MoneyGram have already teamed up in June, and Ripple has recently completed its commitment to purchase a 50-million-Dollar stake in the company.

More of the conversation with @MoneyGram CEO @walexholmes talking about the @Ripple partnership, corridor expansion, volume growth & maybe one day replacing the SWIFT payment system — “those are large aspirations.” 😃 $XRP pic.twitter.com/ACoxowG8yU

— Julia Chatterley (@jchatterleyCNN) December 17, 2019

In the first part of the interview, Holmes explained that the partnership between Ripple and MoneyGram will lead to a symbiotic relationship both companies benefited. The Duo managed to attract a lot of attention from various industries and the use of the ODL Services of Ripple on the platform of MoneyGram advance.

Talking about the cumbersome process of worldwide money transfers, Holmes stated that “money really moves, move data”. He noted that MoneyGram has liquidity and working capital in 122 different currencies, with many Bank accounts and “associated Parts, which really help us to facilitate the flow,” and added,

The Interesting thing about Ripple and what is happening in the Blockchain, and the crypto-space, so that for the first Time a technology is available that has the potential to this ability to really transform and to actually move money, such as data.

Holmes also highlighted the prospects for digital Transformation, the company focused, and noted that in the last quarter of more than 20 % of its global transactions are digital, were performed.

Featured Image: Wit Olszweski | Shutterstock