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

  • 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
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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.

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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.

 

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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.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
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.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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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.

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