fbpx
Skip to content Skip to sidebar Skip to footer

Ripple Partners with Intermex to Capture US – Mexico Remittances Service

ripple

After landed a deal with the world’s second-largest remittances service company, Money Gram International, last year. Ripple continues to expand its partnership with International Money Express (Intermex), a firm focusing on remittances service in the Latin and Caribbean regions.

This partnership allows Intermex to implement and utilize Ripple Net’s On-Demand Liquidity (ODL) product. The RippleNet’s ODL uses Ripple’s own digital token – XRP to send and receive currencies without any border. This technology is a part of Ripple’s global payment network which significantly lower the cost and reduces transaction processing time.

According to the data from the World Bank, Mexico is the third-largest remittance recipient after only India and China. Intermex, which is reportedly processing more than 30 million cross-border transactions annually, expects to provide its customers with cheaper, faster, and safer cross-border remittance services between the US and Mexico.

December last year, Ripple went through a new funding round, raising more than $200 million. The company claims that the investment from the funding marked a record high for the business and 2019 was “the strongest year for Ripple, yet.”

Nevertheless, the Ripple’s digital token – XRP has not seen any significant changes in price for the past 6 months. Some token investors started to complain and even raised up a petition for Ripple to stop dumping billions of XRP on the market, crashing the price of the token.

You may also want to read: Japanese Financial Giant SBI Holdings to Distribute Dividends in XRP

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us