MoneyGram Goes Live On Ripple’s ODL
Ripple’s
ODL-On Demand Liquidity is the successor to the erstwhile platform known as
XRapid. Since it was announced earlier on in the year that MoneyGram signed an
operational agreement with Ripple, many people have looked forward to how well
the deal will work.
At
the Swell conference held last week in Singapore, Alex Holmes who is the chairman
of MoneyGram gave a hint of how the partnership was working out.
A
New Dawn
By
describing the MoneyGram and the ODL partnership as magic, Mr. Holmes was affirming
that the new dawn was making a difference. The highlight of the session was the
confirming that MoneyGram was now able to complete transfers from America to
destination points around the world on a 24/7 basis.
For
Brad Garlinghouse, who is Ripple’s CEO, he was quick to affirm that legacy
efforts come under a great deal of pressure in the tech space. To him, there
should be coordination between key players to make service delivery better
optimized.
The use
of ODL by MoneyGram for now cover 10 percent of remittances between Mexico and
the US. So, it might not be a question of how well ODL is working for now, the
world should expect deeper integrations in the days ahead.
Blockchain
Rising
In
the last two years, the popularity of blockchains has been on the rise. While
it was easy to think it was just a fluke, the present-day developments already
show that blockchain is winning.
With blockchain systems like ODL taking the center-stage
in global financial infrastructure, more of the same should be expected in the days
ahead.
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