Ripple’s global institutional markets team reported that the trading volume of XRP has increased as the news of their alliance with payments giant MoneyGram was announced. The XRP pair with Mexican peso is on the rise ever since the news of using XRP for payments through MoneyGram went live. The XRP/MXN volumes have increased by 25%. However, the overall XRP volume of trading is down by almost 65%.
MoneyGram CEO Alex Holmes pointed out Ripple’s ability to settle the payments quickly. He further added that they have started trading a week ago and all the signs have been showing that this partnership was a wise and beneficial decision.
The partnership of Ripple and MoneyGram was announced in July. Ripple bought shares worth $30 million of MoneyGram with a premium of $4.10. Further, they also added the term/option of buying shares worth $20 million in the next two years.