Alex Holmes, the CEO of MoneyGram, has said Ripple is driving exemplary innovation across the globe, adding that the blockchain firm does not only have the best remittance platform but also have MoneyGram’s vision.
Holmes, in an interview on CNN’s First Move hosted by Julia Chatterley, said migrants are moving to other countries and they want to send money to friends and families in their home countries in a seamless manner with lesser costs. The remittance firm says it then sought a means to tackle the issues.
First, the MoneyGram CEO said the firm is going digital, and nothing less than 20 percent of the firm has been digitized.
When speaking about the partnership between Ripple and MoneyGram, the CEO said it is complicated to move money across the border, and therefore decided to look for means to do it in a costless and simple way.
Homes said MoneyGram has around 120 bank accounts to ease transfer means, but Ripple makes it simple for the remittance firm to move money across the world like data without necessarily having money in the Nostro Account.
“They don’t only have the best platform to do it efficiently, they also have the vision that I think encapsulates what we are trying to do as well,” he said.
Part I of the interview with @MoneyGram CEO @walexholmes, talking digitization, global growth and the partnership with @Visa Direct on @firstmove. pic.twitter.com/a7iTShIXEf
— Julia Chatterley (@jchatterleyCNN) December 17, 2019
“How do you drive down cost, how do you improve throughput, how do you drive the efficiency,” Holmes asked, claiming Ripple and its XRP token solved the problem with ease.
Does MoneyGram Keep XRP Token?
The CEO said MoneyGram sells the XRP it gets in real-time as possible owing to cryptocurrency regulations across the world. Holmes said he does not personally own any XRP, but the one MoneyGram gets is being sold immediately.
