Walmart and Moneygram are coming together to unveil Wallmart2World, a money remittance service in 4,700 store outlets. It is reported that the “association with Walmart would pump Ripple.” The Moneygram associated with Ripple and experiments its xRapid payment solution which processes each transaction in 3.3 seconds at the cost of $0.0004. However, Moneygram has not integrated xRapid yet.
Two more companies will adapt to the use of XRP token. The IDT Corporation and Mercury declared that they ‘will steer Ripple’s xRapid for money transfers.’ Ripple claimed that Cuallix, financial services firm, had been using XRP. Ripple CEO, Garlinghouse said, “Payment providers like IDT Corporation and MercuryFX are early movers because they understand what XRP can do to their business and customer base.”
The CEO of Ripple described the tie up with MoneyGram as a strategic one. The CEO said, “Every day Blockchain technology is changing the norm and encouraging innovation. Ripple is at the forefront of the technology and we look forward to piloting xRapid. We are hopeful that it will increase efficiency and improve services to MoneyGram customers”.
Askeesh Birla, Ripple’s product VP projected that XRP and Ripple have got an opportunity in the Asian market since regulators and banks are more open to innovation and technological advancement. Ripple explored plans for XRapid which will enhance cross-border payments. Presently Siam Bank in Thailand and Axis Bank in India are using the product.