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Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher

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For more information regarding this investment/partnership

- MoneyGram International (NASDAQ:MGI) skyrockets after announcing a strategic agreement with Ripple (XRP-USD).

- MoneyGram says the two-year partnership supports the companies' shared goal of improving the settlement of cross-border payments by increasing efficiency and reducing cost through RippleNet.

- Ripple will become MoneyGram's key partner for cross-border settlement using digital assets. As part of this partnership, Ripple has made an initial investment of $30M in MoneyGram equity, made up of common stock and a warrant to purchase common stock. Ripple purchased the newly-issued common stock from MoneyGram at $4.10 per share.

- MGI +52% after hours to $2.22.

Edited by Chris_Reeves

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