• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore
XRP is 'Not an Answer For Mexico' Says Ripplenet Partner

XRP is ‘Not an Answer For Mexico’ Says Ripplenet Partner

Trevor Smith by Trevor Smith
4 years ago
in News, News teaser, Ripple
0

International Money Exchange (Intermex), one of the world’s leading remittance companies, has announced that it will not be using Ripple and XRP for Mexico or its other core markets. This position comes as a surprise, as earlier this year the company embraced Ripple as a partner. 


RIPPLE AND XRP MAY BE USED IN OTHER MARKETS

Executives for Intermex made the announcement on a conference call in response to a question about how the partnership with Ripple and its native XRP token would be utilized moving forward.

Tony Lauro, Chief Financial Officer, stated:

We’re looking at Ripple for a couple of other products which I think we mentioned in the press release. The first of which is RippleNet which, as you know, is their hub connecting financial institutions together which will enable us to onboard new players faster than we would if we were doing direct connections to each one.

After that, CEO Robert Lisy stated:

Ripple will not be an answer for places like Mexico. We’re very proud about the relationships we have there . . . we have very tight relationships that strategically setting plans and objectives with those players. And so you won’t really see us leveraging Ripple in our core markets. I think it will bring us more growth in newer markets in places where we’re exploring going into ancillary products

Ripple and Intermex announced their partnership early last month. Such a move led many to speculate that Intermex, which focuses primarily on Latin America, would rapidly integrate XRP into its primary services. Ripple Labs also made this assertion in its own press release.

This news no-doubt frustrates Ripple’s supporters, yet there is a silver lining. Intermex is a rapidly growing company, having gone public in 2018. Last year it moved more than USD $16 billion, and also expanded into Canada and Africa. With bold plans for the future there are plenty of opportunities for it to embrace Ripple and XRP moving forward.

CRYPTOCURRENCY IS TAKING OVER REMITTANCE MARKET

Companies like Intermex are wise to explore blockchain technology, as cryptocurrency promises to soon revolutionize cross border transfers. By some estimates fifteen percent of all remittances already involve crypto, and this number is expected to rapidly rise in coming years. Most of this activity occurs in the developing world, as citizens search for alternatives to their unstable national fiats.

In fact, crypto advocates have long asserted that blockchain assets such as Bitcoin will render legacy remittance companies obsolete. Thus, exploring new options should be a priority for Intermex and its competitors.

What do you make of Intermex’s latest announcement regarding its Ripplenet partnership? Let us know in the comments below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Trevor Smith

Trevor Smith

College professor, public speaker, and analyst of all things related to cryptocurrency and blockchain technology.

Related Posts

Ripple Georgia CBDC

National Bank Of Georgia Selects Ripple Labs As Potential CBDC Partner

2 days ago
Pro-XRP lawyer John Deaton Ripple vs. SEC

Ripple Vs. SEC: Pro-XRP Lawyer Tears Down Interlocutory Appeal

2 days ago
Ripple

Ripple CEO Drops Acquisition Bombshell: Fortress Trust Deal Off The Table

2 days ago
Ripple XRP

Ripple Explains Why Enterprises Seek Its Solutions Amid Economic Uncertainty

3 days ago
Ripple

Ripple Appoints White House Veteran For Policy Leadership Role

4 days ago
BitBoy

Crypto Influencer ‘BitBoy’ Arrested Live On YouTube – Here’s What Happened

5 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • 6 Best Cryptos To Buy For Huge Growth in 2023

    16 hours ago
  • Best 7 Cryptos For Beginners To Buy

    18 hours ago
  • From Setbacks to Success: Uwerx’s Recovery/Relaunch...

    20 hours ago
  • Prepare for the Next Bull Market: The 5 Best Cryptos to Buy...

    1 day ago
  • Meta Force and Lado Okhotnikov Presented the Results of...

    2 days 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
  • NAGA

Categories

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

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 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.