ripple mexico remittance

Using Ripple’s On-Demand Liquidity, Mexican crypto exchange, and remittance service, Bitso plans to process 20% of all cross-border transfers to the country.

US-Mexican Remittances Reach Above $35 Billion per Year
In the latest Messari Unqualified Opinions podcast, Bitso’s CEO Daniel Vogel shared his expectations of expanding the potential of Ripple’s ODL. Vogel hopes to catch as much as 20% of weekly remittances, a significant share of a market that moves $35 billion per year.

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— Messari (@MessariCrypto) January 31, 2020

Vogel shared that Ripple’s ODL moved $18 million through XRP in the last week of December. Bitso’s volumes derive from the activity of MoneyGram, which already uses XRP for 10% of its transfers. MoneyGram, the partner acquired by Ripple, Inc., has taken hold…

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