Intermex Partners with Ripple to Use ODL (XRP)

Ripple announced that Intermex will use his solution ODL, exploiting its cryptocurrency XRP, to open new corridors between the USA and Mexico.

On its website, Ripple said this alliance will boost its network RippleNet and will allow the money transfer company Intermex to leverage his product On-Demand Liquidity (ODL).

Thanks to this partnership, Intermex will be able to settle major currencies and match the funding schedule to its settlement requirements, reducing costs and providing more transparency to its customers, ”wrote Ripple.

Founded in Miami in 1994 and listed on the Nasdaq, International Money Express (Intermex) today processes more than $ 30 million in transactions annually between the United States and 17 countries in Latin America and the Caribbean.

We are pleased to have started the partnership with Ripple and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency, ”added Intermex CEO Bob Lisy .

Other large money transfer companies, like MoneyGram, are already using the solution On-Demand Liquidity (ODL), formerly called xRapid, by Ripple.

According to the American company specializing in blockchain, in addition to allowing faster and cheaper payments, ODL eliminates the need for financial institutions to pre-finance accounts in destination currencies, freeing up capital and thus ensuring the most competitive exchange rates on the market.

In January, Ripple's boss, Brad Garlinghouse, revealed that his company could make a IPO over the next 12 months.