MoneyGram, international payments service provider, enters into a strategic partnership with Ripple. Together, both companies want to revolutionize international cash flow.
Ripple remains the hottest cryptocurrency currently on the market. At the start of the year, the course rallied insane and at times managed to outstrip Ethereum and settle for second place. However, earlier this week Ripple had to put a damper on Coinmarketcap’s volume of cryptocurrency trading in South Korea. The Ripple course continued to break in the following days.
Now Ripple delivers positive headlines again. The aim of the cooperation is to modernize international money transfers. The integration of MoneyGrams into Ripple ecosystem will be tested. Ripple token XRP should also be part of the cooperation and should be used for cross-border payments.
As a special advantage of XRP, the low transaction costs and the short transaction duration are highlighted, making the coin ideal for payments and cash flows. For Money Gram, the second largest money transfer service provider in the world, the opportunity to explore Blockchain as part of the collaboration is also a charming element of the partnership.
“Every day, Blockchain technology changes the frame in which we move. Ripple is at the forefront of this innovation and we look forward to working together “,
explains MoneyGram CEO Alex Holmes.
“The inefficiency of global cash flows affects not only banks, but also institutions like MoneyGram. Providers of cross-border payments are extremely important as they allow many people to transfer money to family or friends. We are therefore very pleased to contribute to a better solution in a long-term partnership, “
says Brad Garlinghouse, CEO of Ripple.
Ripple is fulfilling its promise to focus more on partnerships with money transfer companies in 2018. Also, the course responded promptly to the announcement: It was down since the Korean shock and crashed to 1.60 US dollars. Though, it jumped yesterday again and it costs more than 2 US dollars and seems to have currently consolidated.
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