MoneyGram CEO: Ripple allows MoneyGram to avoid the hassle of transferring funds globally

According to, MoneyGram CEO Alex Holmes was interviewed by CNN yesterday. When talking about the tedious process of transferring funds globally, Holmes stated that "the funds have not actually been transferred and the data has not been transferred." The cooperation with Ripple enables us to use a net settlement engine, and all the cash on the market can enter bank accounts. He noted that MoneyGram has liquidity and working capital positions in 122 different currencies, has many bank accounts and "relevant parts that really help us facilitate liquidity." So we can transfer funds immediately.