18/06/19 08:57 UTC±0

Ripple confirms $50 million partnership with MoneyGram

Ripple and MoneyGram Partnership
Ripple and MoneyGram Partnership

Rumors of a partnership began a few weeks ago. On June 17, Ripple finally confirmed the partnership with the international payment service MoneyGram. The MoneyGram deal will cost about $50 million – Ripple Twitter.


Details of cooperation

Ripple and MoneyGram will cooperate for at least two years in accordance with the terms of the deal. MoneyGram will use Ripple xRapid technology to calculate remittances across borders using XRP markers more efficiently. It also will have access to Ripple capital.

Interesting in the section: xRapid payment system. Cryptocurrencies and banking

According to Alex Holmes, chairman and chief executive officer at MoneyGram: "It is imperative for us to continue improving our platform and offer the most efficient solution to transferring funds from point A to point B. Thanks to the Ripple xRapid product, we will be able to count funds instantly on a round-the-clock basis, which can revolutionize our operations and significantly simplify global liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details

The Ripple and MoneyGram $50 million deal. To mark this important new partnership, Ripple’s CEO announced that Ripple will launch another 2 million XRP tokens to be issued to owners, – Twitter of Brad Garlinghouse.

Editor: Godfrid Brower

See also: "ChangeNow cryptocurrency exchange recovers 500,000 XRP after hacking"

#Ripple #exchange #MoneyGram #cryptocurrency #tokens #XRP



Fiat money, funds