MoneyGram adopts XRP as international remittance means
The remittance market in the world is a big business.
As of 2016, remittance amount is about 600 billion dollars, cross-border payment has been used to support the families of their homeland and transactions among corporate partners.
The remittance company has enabled people to cross-border payments.
Unfortunately, in the current model, remittance companies are mainly in the form of remittance from pre-funded accounts, remittance of this process is high fee and delay is a problem, companies and users have a headache It is.
MoneyGram Inc., the world's largest remittance company, adopts XRP for remittance flow and realizes low cost and prompt cross-border payment.
By utilizing XRP, we solve the liquidity problem which many financial institutions had over the years.
In addition to that, users can remit funds in real time, transparently and reliably.
Ripple Creativity to improve crossborder payment
Ripple focuses on inefficiencies and problems that exist in all cross-border payments regardless of banks, major companies, or financial institutions.
Ripple CEO Brad Garlinghouse said, "Not only banks are affected by settlement issues, but also companies that allow remittances between users such as MoneyGram.
By utilizing digital assets like XRP, settlement can be done within 3 seconds and our clients can send money like information. "
Article link:https://ripple.com/insights/moneygram-use-xrp-faster-international-payments/
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