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.
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.