According to BusinessWire, Ripple, a blockchain solution for international payments, announced that it has over 300 customers with a growing transaction rate. This jump in costumers and consistent growth is reportedly due to On-Demand Liquidity (ODL).
Ripple’s customer group includes MoneyGram, goLance, Viamericas, FlashFX and Interbank Peru. Michael Brooks, CEO of goLance: “The freelance marketplace is growing dramatically as more companies are hiring talent, both domestic and overseas, to help grow their businesses. At goLance, we want to ensure that freelancers are paid on-time, with minimal fees. That’s why we’re partnering with Ripple. Through our partnership, goLance uses blockchain technology and XRP to address the current inefficiencies with cross-border payments by making transactions quicker, more reliable and cheaper. By lowering the cost of sending payments, goLance can put more money into the hands of the freelancers and improve their quality of life.”
Paul Dwyer, CEO of Viamericas: “As one of the fastest growing money transmitters in the world, we understand the current challenges of sending money globally and look for operational efficiencies to make the process easier and more affordable for the people we serve. Last year, remittance flows were at an all time high at close to $600 billion, and have long been one of the largest sources of external financing in developing countries, of particular importance to low and middle income families. Ripple’s On-Demand Liquidity enables us to send real-time payments and lower payment costs, as we are able to manage our liquidity more efficiently.”
Nicolas Steiger, CEO of FlashFX: “As one of the earliest adopters of Ripple’s On-Demand Liquidity, we’ve seen the benefits firsthand of the product and its potential to not only dramatically improve cross border payments for customers, but to also impact our bottom line. We’re excited to be at the forefront of using this technology and to help Australians save time and money when transferring money overseas.”
“This year has been our strongest for Ripple yet. In 2019 we’ve seen continued momentum with customers, growth of RippleNet and adoption of On-Demand Liquidity. In just a year since we launched ODL, we are already making an impact on the bottom line for our customers,” said Brad Garlinghouse, CEO of Ripple. “We’re excited to continue this momentum into next year and for the expansion of ODL into new markets.”
MoneyGram started using Ripple’s ODL.”One of the core strengths of MoneyGram is our global liquidity and settlement engine that enables our customers to send money in over 200 countries and territories. Our partnership with Ripple has helped us to improve this strength and we’ve already started seeing the product’s potential to streamline our back-end capabilities,” said Alex Holmes, MoneyGram’s CEO. “For the first time ever, we’re settling currencies in seconds, and because of these results, we’re expanding our partnership with Ripple and are excited to announce that we have started executing foreign currency trades with the Philippine peso using ODL.”