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Remittance Firm Intermex Won’t Leverage Ripple Solutions For ‘Core’ Markets Like Mexico

Ramsey Baker

Summary: International Money Express (Intermex), the Nasdaq-listed remittance firm which had partnered with Ripple last month, said that it will not leverage Ripple solutions for its “core” markets like Mexico. Robert Lisy, the chairman, president and CEO of Intermex, said during the latest earnings call that “Ripple will not be an answer for places like Mexico.” ...

International Money Express (Intermex), the Nasdaq-listed remittance firm which had partnered with Ripple last month, said that it will not leverage Ripple solutions for its “core” markets like Mexico.

Robert Lisy, the chairman, president and CEO of Intermex, said during the latest earnings call that “Ripple will not be an answer for places like Mexico.” This is because the firm has already developed relationships with key payers in the region, such as Bancoppel and Elektra.

“We have very tight relationships that [are] strategically setting plans and objectives with those payers. And so you won’t really see us leveraging Ripple in our core markets,” said Lisy.

By Ramsey Baker

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