SWELL 2019, we got news from Alex Holmes that Moneygram would be expanding by the end of 2019 to multiple corridors. Everyone was wondering what the additional corridors would be. Well we have now found out.
Ripple and Moneygram now have liquidity solutions currently live with the follow fiat pairs: US dollar, the Euro, the Mexican peso, the Philippine peso, and the Australian dollar. The Euro was announced by Ripple in there last quarterly report and caught everyone off guard in my opinion.
February 5th, Asheesh Birla and Ginger Baker hosted a On Demand Liquidity Webinar, going over the current state of ODL and taking questions from select individuals who were invited on how ODl works and Ripple plans going forward. Asheesh Birla, Ripple’s senior vice president of product management and corporate development stated that:
“[Bitso] moved $18 million of remittance through XRP in the final weeks of December and that’s been growing at 15-20% per week.
For MoneyGram, they’re now live in five corridors using On-Demand Liquidity. And now, 10% of their US to Mexico [corridor], which is their largest corridor, is moving over to XRP and ODL.”
XRP is the top trading pair on Bitso, passing Bitcoin. Since the start of 2020 we have seen the XRP/MXN really kick into gear crushing ATH day after day. Now with the new partnership announcement by Ripple with Intermax we can expect to see the MXN/XRP pair ramp up even more.