Ripple says it is modernizing the global payments infrastructure and is making the task of sending money around the world as easy, fast and inexpensive as sending an email. It claims to have over 300 financial services customers globally and has signed partnership deals with American Express and Santander.

Last June it announced a partnership with MoneyGram, one of the world’s largest money-transfer companies. The partnership uses Ripple’s On-Demand Liquidity, or ODL, technology to enable money to be sent from one currency and instantly settled in the destination currency. Today MoneyGram moves 10% of its transaction volume between the U.S. and Mexico through ODL.

Brad Garlinghouse, Ripple CEO explains on CNBC.

Video courtesy of CNBC