Ripple cryptocurrency processed $54 million in digital transactions to Mexico in one week
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Answer Ripple cryptocurrency processed $54 million in digital transactions to Mexico in one week
Digital payment is one of the main areas that some cryptocurrency projects seek to enter and change.
Ripple is one of these companies.
Ripple has joined the ranks of international remittance companies such as UBS and PayPal.
Today, Ripple is the only cryptocurrency company to be featured in the list of Top 100 International Remittance Companies by Financial Data Provider”FXC Intelligence“.
Ripple CEO Brad Garlinghouse revealed the volume of transactions the platform is currently experiencing in an interview with CNN earlier this month.
He revealed that the remittance platform had processed $54 million of transactions from the United States to Mexico in the first week of February.
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Garlinghouse said:
This represents 7.5% of the total inflows from the US dollar to the Mexican peso
This is higher than last December at 3%. Which is considered a rapid and large growth.
Ripple partners have big ambitions
Many of the companies that appear on the “FXC Intelligence” list such as “MoneyGram” and “TransferGo” are Ripple partners as well.
Earlier this month, Ripple announced a partnership with Intermex, a leading money transfer services company in Latin America and the Caribbean, and one of the world’s largest money transfer service providers.
Intermex processes more than 30 million transactions annually, according to the company’s own figures.
Another Ripple partner, Mexico City-based Bitso, processes 10% of MoneyGram’s flows into Mexico with XRP.
Bitso CEO Daniel Vogel stated that the exchange hopes to capture up to 20% of the total weekly remittance market using Ripple’s on-demand liquidity (ODL) product.
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Read also:
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BitMEX officially responds to the sudden drop in the price of the Ripple currency on its platform
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