Ripple CEO: “Pre-funded accounts will become a thing of the past.”
Ripple continues the explorations to find new perspectives, as a result ensuring its adoption and establishing Ripple’s and other cryptocurrencies traditional case of uses.
Being in cooperation with MoneyGram for quite some time, Ripple provided a new payment method to MoneyGram, increasing the transactions’ effectiveness & speed.
According to Ripple CEO Brad Garlinghouse, CEO of MoneyGram, one of the leading money transfer companies in the world, personally contacted him in order to develop new potential opportunities to broaden Ripple’s On-Demand Liquidity service to other jurisdictions.
Senior Vice President of Ripple Asheesh Birla confirmed that MoneyGram will be extending On-Demand Liquidity to new places by the end of the current year.
ICYMI – in today’s @MoneyGram earnings call, CEO @walexholmes announced plans to expand use of Ripple’s on-demand liquidity to new corridors before EOY. “Our partnership with Ripple will be a competitive differentiator in the months and years ahead”
— Asheesh Birla (@ashgoblue) November 1, 2019
At the present time, MoneyGram already utilizes On-Demand Liquidity in Mexico & the quite easy way of the transaction implementation is said to be a stimulation for Holmes to make a decision about rapid expansion.
As reported by Ripple’s CEO, these transactions are completely implemented in approximately a minute and the spread of Ripple’s services can ensure that in the near future “pre-funded accounts will become a thing of the past.”
Many have doubted the benefits of #XRP, but you don’t have to take my word for it. The proof is in the pudding: @MoneyGram is experiencing real-time settlement (~60 seconds) in USD to Mexican pesos. Pre-funded accounts will become a thing of the past. https://t.co/Fczhp0DhiI pic.twitter.com/x0owlFvfiX
— Brad Garlinghouse (@bgarlinghouse) November 1, 2019
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