26/11/19 03:20 UTC-5

Completion of Ripple's deal with MoneyGram payment company for $50 million

MoneyGram, a money transfer company, announced that it has received another $20 million from Ripple blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
service provider. After that, the deal in the amount of $50 million is considered closed, according to a press release.


Ripple completed a deal with MoneyGram

Ripple acquired the company's newly-issued capital at a price of $4.10 per share, a price well above the current market value of MoneyGram.

“Our partnership with Ripple will help transform both the traditional money transfer industry and the digital asset industry. For the first time in history, we carry out currency transfers in seconds.”– said the head of MoneyGram Alex Holmes.

Interesting in the section: Bank of America is testing Ripple technology

  • The deal with MoneyGram ensures that xRapid Ripple, which uses XRP in cash flow, will be used in global money transfers for the first time.

See also: "Charles Schwab acquires rival TD Ameritrade for $26 billion"

#Transaction #Ripple #MoneyGram #blockchain

Editor: Yuliya Soroka