As Ripple intensifies efforts to grow its RippleNet and increase XRP adoption, the company has announced another strategic partnership in this department. In a new publication on its official website, Ripple says it has now finalized an official collaboration with International Money Express.
According to the announcement, the International Money Express (Intermex) is a remittance company mainly focused on the Latin America and Caribbean corridor. The partnership will allow Intermex to use RippleNet’s offerings to facilitate faster and more effective cross-border payments between Mexico and the United States.
Ripple says Intermex is easily one of the largest companies that handle payment settlements between the U.S. and Mexico as it processes more than 30 million transactions annually. These transactions are spread across a large network comprising about 100,000 different payer locations.
Ripple is also touting its On-Demand Liquidity (ODL) as part of its efforts aimed at facilitating cross-border transactions. Last year, both MoneyGram and Ripple entered an official partnership for the giant remittance company to use Ripple’s platform for cross-border payments. Ripple also invested $50 million into Moneygram, now owning almost 10 % of MoneyGram.
Within a few months, Moneygram already announced that at least 10% of all its remittances between the U.S. and Mexico were being handled through ODL. Moneygram also plans to expand the use of ODL to other corridors.
Image Credits: Pixabay
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