- MoneyGram has launched Ripple’s ODL that uses XRP for fund transfer in Mexico and Thailand.
- Ripple believes that ODL needs more commercialization but it is already revolutionizing money transfer.
The On-Demand Liquidity (ODL) by Ripple, a blockchain payments solution provider has been gaining traction following the partnership with MoneyGram. According to the global head of banking, Marjan Delatinne MoneyGram is incorporating ODL its cross border payments in exotic countries such as Thailand and Mexico.
Delatinne was speaking at the Asia House Global Trade Dialogue in Singapore and explained that:
“MoneyGram, for instance, is a case that went live recently. They are using this solution in a few markets, as I mentioned in more exotic markets like Mexico, Thailand – and they see already a great efficiency decrease in the costs in the way that the treasury and liquidity management is happening.”
Delatinne added that ODL revolutionizes the way money is handled as it provides an almost instant conversion between fiat currencies using XRP. The product needs more commercialization, however, it is already providing a shift in the way the world thinks of value transfer.
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