MoneyGram CEO: We use XRP for transfers, but we don't hold cryptocurrency MoneyGram's CEO Alex Holmes talked to CNN this Tuesday about cooperation with Ripple and praised the XRP-based solutions provided by the fintech startup, while admitting that neither he himself, neither MoneyGram holds cryptocurrency.

CEO of MoneyGram: We use XRP for transfers, but we do not hold cryptocurrency

Alex Holmes, CEO of MoneyGram payment company this tuesday talked to CNN about cooperation with Ripple and praised the XRP-based solutions provided by the fintech startup, while admitting that neither he nor MoneyGram holds cryptocurrency.

This summer it became known that Ripple is investing $ 50 million in MoneyGram, and that, in turn, will use the On-Demand Liquidity (ODL) service, which uses XRP for international money transfers..

“Moving money across borders is very difficult,” Holmes said, adding that he considers the product offered by Ripple to be “magic” as it allows instant transfers without “stuck liquidity”. “Their views are consistent with what we are trying to do. I think Ripple and them cryptocurrency XRP innovative in this respect ".

When asked if he has or his company investments in XRP, Holmes replied in the negative: "We strive to sell any XRP that comes to us in a time as close to real as possible.".

According to the head of the company, MoneyGram cannot hold cryptocurrency due to regulatory restrictions. "There are no crypto assets on our balance sheet at any given time," he added..

Holmes previously reported that 10% of transfers between Mexico and the United States are carried out by MoneyGram using XRP.

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