• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
ripple mexico remittance

Bitso to Use Ripple’s ODL to Process 20 Percent of Remittances to Mexico

Christine Vasileva
by Christine Vasileva
5 years ago
·
Posted in Ripple, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Using Ripple’s On-Demand Liquidity, Mexican crypto exchange, and remittance service, Bitso plans to process 20% of all cross-border transfers to the country.


US-Mexican Remittances Reach Above $35 Billion per Year

In the latest Messari Unqualified Opinions podcast, Bitso’s CEO Daniel Vogel shared his expectations of expanding the potential of Ripple’s ODL. Vogel hopes to catch as much as 20% of weekly remittances, a significant share of a market that moves $35 billion per year.

Listen on Apple Podcasts https://t.co/UGfBkQ0z9S

— Messari (@MessariCrypto) January 31, 2020

Vogel shared that Ripple’s ODL moved $18 million through XRP in the last week of December. Bitso’s volumes derive from the activity of MoneyGram, which already uses XRP for 10% of its transfers. MoneyGram, the partner acquired by Ripple, Inc., has taken hold of some of the biggest remittance markets, including Mexico and India.

“We were actually increasing our volume and this is because we’ve spent a long time finally building a remittance solution which you alluded to in the introduction,” said Vogel.

“For us, this is very important because it goes back to crypto utility, it goes back to a business model where you don’t necessarily need to depend on crypto prices increasing for your businesses to do very well.”

Ripple’s XRP Renews Optimism for New Yearly Highs

The optimistic expectations arrive at a time when XRP hopes to move ahead with more positive news of utility and general market optimism. XRP still marks about a million transactions per day, but the real drive is to see RippleNet carry real-world volumes for the legacy finance industry. MoneyGram is already one of the biggest users of XRP payment channels.

MoneyGram is now live in 5 corridors with #XRP ODL! pic.twitter.com/kzFwymhopR

— David Vallieres (@vallieres_david) February 5, 2020

XRP established itself at $0.2744, after a hike above $0.28. For now, the asset is still struggling to break out but has recovered from December’s lows at $0.18. Perhaps the most encouraging sign is growing volumes and liquidity, as XRP spent months with relatively low trading activity.

The asset is central to the activity of Bitso, making up its most active pair against the Mexican peso. From now on, XRP will also see its price defined by the new futures contract on BitMEX, which may expand volumes beyond the relatively small spot market.

#XRP has been climbing since the 16th of December. Gradual appreciation now sees #Xrp at +53.95% to date. New direction is formed, price expected to continue upwards gradually. Test $0.30 then $0.50. The stage is set, be vigilant🃏#xrpthestandard #xrparmy #XRPCommunity #xrplm pic.twitter.com/dUkiPa8X6e

— XRPJoker🃏 (@joker_xrp) February 7, 2020

The attractiveness of XRP stems from the potential to bounce off lows, with a sight on $0.50 already offering significant short-term gains.

What do you think of the usage of RippleNet for cross-border remittances? Share your thoughts in the comments section below!


 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christine Vasileva

Christine Vasileva

Follow

Christine Vasileva is a financial news and business writer, tracking the latest developments in fintech and the effect of blockchain and crypto-assets on global business and finance.

Full Profile

Related Posts

India

India Cracks Down: Stricter Rules To Combat Rising Digital Payments Fraud

1 day ago
Philippines

Philippines Authorities Move To Put Key Public Records On Blockchain After Mass Protests

2 days ago
XRP

XRP And DeFi: The Roadmap That Tells It All

3 days ago
Ripple

Ripple Vs. SEC Battle Update: Lawsuit Officially Over As $125M Receipt Of Payment To Regulator Surfaces

4 days ago
ripple xrp xrpusd

Altcoin Selloff Hits XRP: Analysts Say Lawsuit No Longer the Key Factor

6 days ago
Ripple

Ripple Meets With US And US Government To Talk Crypto – Here’s What Happened

1 week ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    2 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    4 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    5 days ago
  • Snorter надхвърли $4 милиона след...

    6 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.