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International Money Express (Intermex) partners with Ripple

FX Street
Updated:
  • The collaboration will allow Intermex to use Ripple’s On-Demand Liquidity (ODL) to offer quick, reliable global payments.
  • ODL leverages XRP as a real-time bridge between the sending and receiving currencies.

According to a recent announcement, International Money Express, a money remittances service company, has entered a partnership with Ripple for global payments. The collaboration will allow Intermex to use Ripple’s On-Demand Liquidity (ODL) through RippleNet to send money globally safely and quickly. 

ODL leverages XRP as a real-time bridge between the sending and receiving currencies and eliminates the need for pre-funding accounts in cross border payments. Intermex will be using RippleNet for quick, transparent cross-border remittance services between Mexico and the US.

At present, ODL is available in pairs, including USD-MXN, USD-PHP, AUD-USD and PHP, and from EUR-USD. Plans for additional pairs across APAC, EMEA, and LATAM are on the way. 

Intermex CEO, Bob Lisy, said:

We are pleased to have begun the partnership with the Ripple team, and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency.

 

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