Ripple’s Partner In Cooperation with Yahoo and Google
MoneyGram, one of Ripple’s highest-profile partners, announced its cooperation with Amazon and Google to improve the effectiveness of its cross-border money transfer product. Both companies are helping Moneygram to develop and deploy multi-cloud service which is designed to increase flexibility and lower both risks and costs.
MoneyGram official statement was released later,
MoneyGram is integrating with the leader in cloud-based applications, AWS, to bring scale to the company’s transaction processing engine. Additionally, MoneyGram is using Google Cloud as its data and analytics engine to better understand customer behavior and deliver a more personalized experience.
Kamila Chytil, MoneyGram’s chief operating officer, added
“Over the last few years, we’ve invested in the latest, cutting-edge technologies to build an agile organization ready to scale.
No part of the business has been left untouched by our digital transformation as we’ve worked tirelessly to build a modern, mobile, and API-driven platform and expand our direct to consumer digital capabilities to over 67 countries.”
MoneyGram is now Ripple’s main partner and the largest user of its remittance product, On-Demand Liquidity. In 2020 Ripple completed the acquisition of its $50-million stake in MoneyGram. The initial agreement was signed back in June of 2019. Additionally, MoneyGram launched more corridors utilizing XRP late last year, however, no official data regarding geography and volume processed through those corridors is available yet.
Image source: Flickr
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