10% OF MONEYGRAMS US-MEXICO BUSINESS IS CRYPTO-ENABLED

The remittance market, the process of sending money internationally, is a massive global industry. Money transfer giant MoneyGram processes 10% of its transactions between the U.S. and Mexican corridor via Ripple s payments solution On-Demand Liquidity (ODL) that leverages XRPThe World Bank estimates it to be worth over half a trillion dollars annually, with a significant portion flowing to developing nations. CNBC is the world leader in business news and real-time financial market coverage. Find fast, actionable information.Now, blockchain technology is beginning to disrupt this traditional financial landscape. Speaking on stage at Ripple s Swell conference, MoneyGram CEO Alex Holmes let it fly earlier today that 10% of his company s business between the US and Mexico happens with help fromMoneyGram, one of the world's leading money transfer companies, is at the forefront of this transformation, and a significant portion of their US-Mexico corridor business is now powered by cryptocurrency-related technologies.This is no longer a far-off concept; it's a tangible reality.According to MoneyGram CEO Alex Holmes, a remarkable 10% of the company's transactions between the U.S. and Mexico are facilitated by Ripple's On-Demand Liquidity (ODL) platform.But what does this mean for the future of remittances?What are the implications for consumers and the broader financial system? On-Demand Liquidity platform and that it represents the volume of the Mexican peso, as traded by MoneyGram.Let's explore the intricacies of this development and how it's reshaping the way money moves across borders.

Understanding MoneyGram's Adoption of Ripple's ODL

MoneyGram's embrace of cryptocurrency solutions, specifically Ripple's On-Demand Liquidity (ODL) platform, marks a significant milestone in the integration of digital assets into mainstream finance.This move is not just about adopting new technology; it's about addressing the inherent inefficiencies and costs associated with traditional remittance processes.

What is On-Demand Liquidity (ODL)?

ODL, formerly known as xRapid, is a technology developed by Ripple that leverages the XRP cryptocurrency to facilitate cross-border payments.Here’s how it works:

• Traditional Remittance Challenges: Traditionally, money transfer companies need to hold pre-funded accounts in various currencies, which ties up significant capital. New Post!!! MoneyGram Uses Crypto Solutions For 10% Of Its Transfers Between The U.S. And Mexico 10% of MoneyGram s business in Mexico and the United States is powered by cryptocurrency-relatedThis leads to higher costs and slower transaction times.
• ODL's Solution: ODL eliminates the need for these pre-funded accounts. An estimate by the World Bank pegged 2025 s global remittance market at $573 billion, and a whopping $422 billion of that went to developing countries. The simple act of transferring money from one country to another more formally known as remittance is one economic heavyweight of a market, yet blockchain technology is poised to change its operations anyway.Instead, when a transfer is initiated, the sending currency is converted into XRP.
• XRP as a Bridge Currency: XRP acts as a bridge currency, quickly and efficiently transferring value across borders.
• Conversion to Receiving Currency: In the receiving country, the XRP is converted into the local currency, and the recipient receives their funds.

This entire process happens within seconds, significantly reducing transaction times and costs compared to traditional methods.The use of XRP provides the necessary liquidity to facilitate these transfers efficiently.

The Significance of 10% Crypto-Enabled Transactions

The fact that 10% of MoneyGram's US-Mexico transaction volume is now processed through Ripple's ODL platform is a testament to the technology's viability and effectiveness.It demonstrates that cryptocurrency solutions can indeed be integrated into existing financial infrastructure to improve efficiency and reduce costs. 1 Tuesday April 2025. About; Advertise; Submit Press Release; Contact Us; News. Bitcoin News. Bitcoin News; Bitcoin Cash News; Bitcoin SV NewsThis 10% figure represents a significant volume of Mexican pesos traded by MoneyGram and a substantial amount of money flowing between the US and Mexico using crypto technology.

The US-Mexico Remittance Corridor: A Major Market

The US-Mexico remittance corridor is one of the largest and most important in the world. 根據世界銀行的估算，2025年全球匯款市場規模為5,730億美元，其中高達4220億美元流向了發展中國家。將錢從一個國家轉移到另一個國家的簡單行動（正式稱為匯款）是市場Millions of individuals living and working in the United States send money back home to support their families in Mexico.Understanding the dynamics of this market is crucial to appreciating the impact of MoneyGram's adoption of ODL.

Why is the US-Mexico Corridor So Important?

Several factors contribute to the significance of this remittance corridor:

• Large Migrant Population: The United States has a large population of Mexican immigrants who regularly send money home.
• Economic Dependence: Many families in Mexico rely heavily on remittances from relatives in the US to cover essential expenses like food, education, and healthcare.
• Economic Impact: Remittances contribute significantly to Mexico's economy, boosting consumption and investment.

The World Bank recognizes the importance of this market, estimating that billions of dollars flow between the two countries annually.

Traditional Challenges in the US-Mexico Corridor

Despite its importance, the US-Mexico remittance corridor has traditionally been plagued by inefficiencies and high costs:

1. High Transaction Fees: Traditional money transfer services often charge high fees, eating into the amount that reaches the recipient.
2. Slow Transaction Times: Transfers can take days to process, causing delays and inconvenience.
3. Complex Regulations: Navigating the regulatory landscape in both countries can be challenging for both senders and recipients.

These challenges underscore the need for innovative solutions like ODL that can streamline the remittance process and reduce costs.

Benefits of Crypto-Enabled Remittances for Users

The integration of cryptocurrency technology into remittances offers several tangible benefits for both senders and receivers, enhancing the overall experience and promoting financial inclusion.

Lower Transaction Fees

One of the most significant advantages of using crypto-enabled remittance platforms like MoneyGram with Ripple’s ODL is the potential for lower transaction fees.By eliminating the need for pre-funded accounts and streamlining the transfer process, ODL reduces the operational costs associated with traditional remittances. 10% of MoneyGram s US-Mexico Business is Crypto-EnabledSource: CointelegraphPublished on . Recent Posts. Economic Development is the Key to Peace and Prosperity Stepwyze Launches SEZChain to Boost Special Economic ZonesThis cost reduction is often passed on to the customer, resulting in lower fees for sending money.This can translate to substantial savings for remitters, especially those who send money frequently or in large amounts. Speaking on stage at Ripple s Swell conference, MoneyGram CEO Alex Holmes let it fly earlier today that 10% of his company s business between the US and Mexico happens with help from Ripple s On-Demand Liquidity. The fluffy but blockchain-positive bit of publicity on Ripple s website calls much more attention to the statistic.Imagine saving a few dollars on every transaction; over time, those savings can add up and make a real difference in the lives of those sending money home.

Faster Transaction Times

Traditional remittance methods can be slow, sometimes taking days for the money to reach the recipient. El Banco Mundial estima que el mercado mundial de remesas de 2025 ser de USD 573,000 millones, de los cuales la friolera cantidad de USD 422,000 millones se destinar n a los pa ses en desarrollo. El simple acto de transferir dinero de un pa s a otro, m s formalmente conocido como remesa, es unThis delay can be problematic, especially when the recipient needs the funds urgently.Crypto-enabled remittances, on the other hand, offer significantly faster transaction times. Welcome to MoneyGram Please enter your User ID and Password. Sign in . Forgot password?With ODL, transactions can be completed in a matter of seconds or minutes, thanks to the speed and efficiency of the XRP ledger.This speed is a major advantage, providing recipients with quick access to the funds they need. Over the course of the third quarter, MoneyGram ramped up its use of XRP sent via Ripple s On-Demand Liquidity product to the point that it now accounts for 10% of company s daily liquidity needs in sending U.S. customers money to Mexican recipients.Faster transactions are especially crucial for emergency situations or time-sensitive payments, ensuring that recipients can access their money when they need it most.

Increased Transparency and Traceability

Blockchain technology provides a high degree of transparency and traceability in financial transactions.When remittances are processed using ODL, each transaction is recorded on the XRP ledger, providing a clear and auditable record of the transfer.This transparency can help to reduce fraud and improve accountability.Senders and receivers can track the progress of their transactions in real-time, providing peace of mind and reducing uncertainty. We asked for more context on the soundbyte statistic. An estimate by the World Bank pegged 2025 s global remittance market at $573 billion, and a whopping $422 billion of that went to developing countries. The simple act of transferring money from one country to another more formally known as remittance is one economic MoreThe ability to trace transactions can also be valuable in resolving disputes or addressing any issues that may arise during the transfer process.

Access to Financial Services for the Unbanked

In many developing countries, a significant portion of the population lacks access to traditional banking services.Crypto-enabled remittances can help to bridge this gap by providing access to financial services for the unbanked. MoneyGram reveals Ripple-enabled benefits in Mexico remittance market Valentina Kirilova Novem 1:48 pmRecipients can receive remittances through mobile wallets or other digital platforms, eliminating the need for a bank account.This can be particularly beneficial for those living in remote areas or those who lack the necessary documentation to open a bank account.By providing access to financial services, crypto-enabled remittances can help to promote financial inclusion and empower individuals to participate more fully in the formal economy.

The Role of XRP in MoneyGram's ODL Integration

Understanding the role of XRP in MoneyGram's integration of Ripple's On-Demand Liquidity is crucial to grasping the technical and economic implications of this partnership.

XRP as a Bridge Currency

XRP serves as a bridge currency in the ODL platform, facilitating the seamless transfer of value across borders.Instead of relying on traditional correspondent banking relationships, which can be slow and costly, ODL uses XRP to quickly and efficiently convert one currency into another. Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.Here’s a step-by-step breakdown:

1. Initiation of Transfer: A sender in the US initiates a money transfer to Mexico through MoneyGram.
2. Conversion to XRP: The US dollars are converted into XRP on a cryptocurrency exchange.
3. Transfer via XRP Ledger: The XRP is transferred across the XRP ledger to an exchange in Mexico.
4. Conversion to Mexican Pesos: The XRP is converted into Mexican pesos on the exchange.
5. Disbursement to Recipient: The Mexican pesos are disbursed to the recipient through MoneyGram's network.

This entire process typically takes only a few seconds, making it significantly faster than traditional remittance methods.

Benefits of Using XRP

The use of XRP in the ODL platform offers several key advantages:

• Speed: XRP transactions are processed quickly, typically within seconds.
• Low Cost: XRP transaction fees are significantly lower than traditional wire transfer fees.
• Scalability: The XRP ledger can handle a high volume of transactions, making it suitable for large-scale remittance operations.
• Decentralization: The XRP ledger is decentralized, meaning it is not controlled by any single entity.

These benefits make XRP an ideal solution for cross-border payments, enabling MoneyGram to provide faster, cheaper, and more efficient remittance services to its customers.

Future Expansion and Potential Impact

While 10% crypto-enabled transactions are a remarkable achievement, it is just the beginning.MoneyGram's plans to expand its use of Ripple's ODL platform hold significant potential for the future of remittances.What could this mean for MoneyGram, its customers, and the wider remittance industry?

Potential for Growth

The current 10% figure represents a substantial volume of transactions, but there's ample room for growth. Speaking on stage at Ripple s Swell conference, MoneyGram CEO Alex Holmes let it fly earlier today that 10% of his company s business between the US and Mexico happens with help from Ripple s On-Demand Liquidity. 10% of what, though?As MoneyGram continues to integrate ODL into more of its operations, the percentage of crypto-enabled transactions could increase significantly. MoneyGram processes 10% of its U.S-Mexico transaction volume through Ripple's On-Demand Liquidity (ODL) platform. Plans to expand usage.Consider the following possibilities:

• Expansion to Other Corridors: MoneyGram could expand its use of ODL to other major remittance corridors, such as those between the US and other Latin American countries, or between Europe and Asia.
• Increased Adoption by Customers: As more customers become aware of the benefits of crypto-enabled remittances, such as lower fees and faster transaction times, adoption could increase organically.
• Strategic Partnerships: MoneyGram could form strategic partnerships with other companies in the cryptocurrency and financial technology space to further expand its reach and capabilities.

Impact on the Remittance Industry

The wider adoption of crypto-enabled remittances could have a profound impact on the remittance industry:

1. Increased Competition: The emergence of crypto-enabled remittance platforms could increase competition among money transfer companies, driving down fees and improving service quality.
2. Greater Financial Inclusion: Crypto-enabled remittances could help to bring more people into the formal financial system, particularly in developing countries.
3. Innovation and Disruption: The integration of cryptocurrency technology could spur innovation and disruption in the remittance industry, leading to new products and services.

Challenges and Considerations

Despite the potential benefits, there are also challenges and considerations to keep in mind:

• Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is still evolving in many countries, which could create uncertainty for companies operating in this space.
• Volatility: The price of cryptocurrencies can be volatile, which could impact the value of remittances.
• Adoption Barriers: Some customers may be hesitant to use crypto-enabled remittance platforms due to a lack of understanding or trust in the technology.

Addressing these challenges will be crucial to ensuring the successful and sustainable adoption of crypto-enabled remittances.

Addressing Common Questions

Many people have questions about the use of cryptocurrency in remittances.Let’s address some of the most common queries.

Is it safe to send money using crypto-enabled platforms?

Yes, reputable crypto-enabled remittance platforms like MoneyGram prioritize security. 10% do que? Detalhes no site da Ripple chamam muito mais aten o para a estat stica. S o perspectivas empolgantes se a tecnologia de criptomoeda puder responder por 10% de como uma grande empresa de remessas faz neg cios entre dois pa ses, mas quando esse marco foi atingido e esse n mero de 10% respons vel por qual tamanho?They implement robust security measures, including encryption and multi-factor authentication, to protect user data and funds. 10% of MoneyGram s business in Mexico and the United States is powered by cryptocurrency-related technologies.Additionally, the transparency of blockchain technology provides an auditable record of transactions, reducing the risk of fraud.

What happens if the price of XRP fluctuates during a transaction?

While cryptocurrency prices can be volatile, ODL is designed to mitigate this risk.The conversion from fiat currency to XRP and back to fiat currency happens very quickly, typically within seconds. Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins.This minimizes the exposure to price fluctuations. XRPUSD Ripple 10% of MoneyGram s US-Mexico Business is Crypto-Enabled. 117.175,72-0,81%)MoneyGram also employs risk management strategies to further protect against volatility.

Do I need to understand cryptocurrency to use these services?

No, you don't need to be a cryptocurrency expert to use crypto-enabled remittance platforms.The process is designed to be user-friendly, and you can send and receive money in your local currency. 10% of MoneyGram s US-Mexico business is crypto-enabled blockchain mobile advertising publishing apps gamesThe platform handles the conversion to and from XRP in the background.

Are crypto-enabled remittances legal?

The legality of crypto-enabled remittances depends on the regulations in each country.In general, as long as the platform complies with local laws and regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements, the transactions are legal. 10% of MoneyGram s US-Mexico Business Is Crypto-Enabled CryptoCurrency Bitcoin cryptotrading forex forextrading bitcoinmining Bitcointrading BTC forexmarket extraincome homebusinessMoneyGram operates in compliance with all applicable regulations in the countries where it offers its services.

Conclusion: The Future of Remittances is Here

MoneyGram's adoption of Ripple's On-Demand Liquidity platform and the fact that 10% of its US-Mexico business is now crypto-enabled represents a significant step forward in the evolution of the remittance industry. 10% of MoneyGram s US-Mexico Business is Crypto-EnabledThe benefits of lower fees, faster transaction times, increased transparency, and greater financial inclusion are compelling.While challenges remain, the potential for growth and disruption is undeniable.

Key Takeaways:

• Crypto-enabled remittances are becoming mainstream. MoneyGram's experience demonstrates that cryptocurrency technology can be successfully integrated into existing financial infrastructure.
• Ripple's ODL is a game-changer. The platform offers a faster, cheaper, and more efficient way to send money across borders.
• The US-Mexico corridor is a prime example. The success of ODL in this major remittance market highlights the potential for expansion to other regions.
• Users benefit from lower fees and faster transactions. Crypto-enabled remittances offer tangible advantages for both senders and receivers.
• The future of remittances is digital and decentralized. The integration of cryptocurrency technology is poised to transform the remittance industry and promote financial inclusion.

The ongoing expansion of crypto-enabled remittances has the power to reshape the financial landscape and create more accessible, affordable, and efficient ways for people to send money to their loved ones around the world.As the technology evolves and adoption increases, the traditional limitations of cross-border payments will continue to diminish, paving the way for a more connected and financially inclusive global economy. An estimate by the World Bank pegged 2025 s world remittance market at $573 billion, and a whopping $422 billion of that went to creating nations.The easy act of transferring cash from one nation to a different extra formally referred to as remittance is one financial heavyweight of a market, but blockchain know-how is poised to alter its operations anyway. Already well-suited forThis is an exciting time for the remittance industry and those who rely on these essential services.