- The new partnership will see Intermex use On-Demand Liquidity, a key Ripple product, as well as XRP
- Intermex is primarily focused on the South American and Caribbean payments sphere
- Intermex looks “forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency”, says CEO
Blockchain-based cross border payments platform Ripple has announced that it will work alongside a Nasdaq-listed remittance firm as part of a new collaboration.
International Money Express, which is also known as Intermex, is a remittances company that has recently paired up with Ripple, which is perhaps the world’s most well-known blockchain payments organisation.
As part of the agreement, Intermex will use the On-Demand Liquidity – or ODL – product for which Ripple is famous.
And it will also access the device via the international financial services network known as RippleNet.
On-Demand Liquidity relies on Ripple’s cryptocurrency, which is called XRP.
When working in conjunction, ODL and XRP are able to work as conduits between the sender and the recipient of a set of funds.
And it removes the requirement for the accounts in question, on either end, to be funded in advance. This in turn makes the online money transfer process much easier.
According to the CEO of Intermex, Bob Lisy, the move will “help drive growth” for the firm – and that the firm was “pleased” to have kicked off the relationship.
“We are pleased to have begun the partnership with the Ripple team, and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency,” he said.
A press release from Intermex shared more details about the firm and its background.
It says that it has proprietary tech solutions which work to increase the options for customers in its major payment corridors, which often originate in the US and go primarily to South and Central America.
It also, however, operates in a number of African nations.
The firm, which was set up in 1994, has offices in various locations around the region including the Florida city of Miami as well as Puebla in Mexico, and Guatemala City in Guatemala.
And it says that it has a broad range of customer access points in the US and further afield.
“We offer the electronic movement of money to our customers through our network of sending and paying agents and company-operated stores located in all 50 states, the District of Columbia and Puerto Rico, and throughout Latin America and the Caribbean,” it said.
“Our services are also available digitally through intermexonline.com,” it added.
Ripple, meanwhile, is a leading provider of blockchain-based payments solutions.
It is based in the US, and provides real-time settlement services to a whole range of financial institutions across the globe.
Ripple, and blockchain technology more generally, have turned around the international money transfer sector. Find out more about it over at our news pages.
