International Money Transfer Company TransferGo’s XRP Plan

International Money Transfer Company TransferGo's XRP Plan

International Money Transfer Company TransferGo’s XRP Plan

TransferGo, a money transfer company operating in 22 different currencies in 47 countries, plans to use XRP for money transfers next year.

TransferGo, a UK-based international money transfer company, plans to use Ripple’s On-Demand Liquidity (ODL), a payment solution that uses Ripple’s XRP.

Having partnered with Ripple in September 2018, the company is already actively using the RippleNet solution, but this product does not require the use of XRP, and RippleNet members only benefit from Ripple’s technology.

Daumantas Dvilinskas, co-founder and CEO of TransferGo, said that even by 2020, a few minutes would be too slow, and that’s why they plan to use ODL.

International Money Transfer Company TransferGo's XRP Plan

International Money Transfer Company TransferGo’s XRP Plan

The CEO also said that Ripple gave TransferGo a competitive edge in India, the world’s largest global cross-border money transfer market, and today they carry several million pounds a year through Ripple.

Dvilinskas also said that before RippleNet, his company must contact its bank partners directly, each of which has a different set of technologies.

ÔÇťTogether with Ripple, we allow people to save up to 90% on traditional transaction fees for cross-border money transfers, CEO says the CEO.

TransferGo’s plans include opening up new markets in Southeast Asia, Latin America and Africa via RippleNet. Founded in 2012, the company now operates in 47 countries and supports 22 currencies.

Ripple announced that they have exceeded 300 customers at the most important Ripple conference of the year, Swell. The number of customers using the company’s XRP solution is said to be over 30.

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