0
📰 News
2060 views

Ripple-Backed MoneyGram CEO on XRP: We’re Able to Settle Billions of USD in Seconds via ODL

ByBit
  • Yuri Molchan
    📰 News

    During the Ripple’s Swell event in Singapore, the head of MoneyGram stated that 10% of all operations between the US and Mexico are running on On-Demand Liquidity and XRP

Ripple-Backed MoneyGram CEO on XRP: We’re Able to Settle Billions of USD in Seconds via ODL
Cover image via www.123rf.com
Contents

Back in summer this year, one of the world’s largest remittance operators MoneyGram started implementing the Ripple-developed On-Demand Liquidity (ODL) product formerly known as xRapid.

Prior to that Ripple had bought a large stake at MoneyGram and now at the annual Swell conference the chief executive Alex Holmes says that as they have started to send remittances to Mexico using ODL and XRP, they are already doing 10 percent of all remittance transactions on this Ripple’s product.

Holmes also said that by the end of the year, Ripple and MoneyGram plan to expand ODL to another four global directions.

MoneyGram CEO praises ODL

While discussing the benefits of Ripple’s new product, Alex Holmes said:

“What I love about ODL is that we’re completely at the forefront of this technology … We’re able to settle billions of dollars in seconds. The magic really comes from pairing MoneyGram transactions with Ripple’s ODL.”

He stated that operators who work with remittance have to evolve as the competition in this sphere has risen drastically over the last decade. Now, MoneyGram is one of the first here who is experimenting with new technologies.

Apart from Ripple’s ODL, they are also using a cloud service to see how this can benefit their customers.

Previously, in one of his interviews, Brad Garlinghouse shared that not long ago Alex Holmes had called him and complained that Ripple was moving with ODL too slowly and encouraged that ODL should be used on other directions, not only Mexico.

👉MUST READ

RippleNet Home: Ripple Introduces Revolutionary Product for Connecting Its Clients

RippleNet Home: Ripple Introduces Revolutionary Product for Connecting Its Clients

MoneyGram partners with Walmart

The other day, U.Today reported that the US retail giant Walmart has teamed up with two Ripple-backed companies – MoneyGram and Ria to improve its Walmart payment system that connects its 4,700 stores in the US.

 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
427 views

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

👉MUST READ

Peter Schiff Reacts to Sudden Bitcoin Price Drop: "Get Ready for the Dump!"

Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

👉MUST READ

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted