In its recently filed annual report to the U.S. Securities and Exchange Commission MoneyGram reports $11.3 million in revenue as a result of its Ripple partnership. Ripple Labs pays the remissions company as an incentive to use RippleNet in its operations.
Ripple Revenue Growing Rapidly
Although MoneyGram’s total revenue continues to decline, embracing Ripple has clearly been positive for the company. It began to use RippleNet’s On-Demand Liquidity (ODL) in the second quarter of last year, which is proving highly successful.
The report states:
The Company is compensated by Ripple in XRP for developing and bringing liquidity to foreign exchange markets, facilitated by the ODL platform, and providing a reliable level of foreign exchange trading activity.
Notably, of the $11.3 million received from Ripple, $8.9 million came in…
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