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

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6 minutes ago, King34Maine said:

I know, I was like he was just full of Bull ****!!!!

he said acquisition, this is a partnership but either way he was onto something so I will tip my cap.  Great news, momentum building.

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Posted (edited)

https://www.marketwatch.com/story/blockchain-company-ripple-invests-in-moneygram-to-power-cross-border-payments-shares-explode-higher-2019-06-17?mod=mw_quote_news

"Ripple, which is known for its XRP XRPUSD, +5.98% cryptocurrency and blockchain technology, agreed to purchase $30 million worth of freshly created MoneyGram shares at $4.10 apiece, and can purchase another $20 million more at its discretion at a minimum of $4.10. . . . MoneyGram will use Ripple's XRP technology to handle cross-border transfers of digital funds for at least two years under the deal."

Edited by VanGogh

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3 minutes ago, Babelly said:

he said acquisition, this is a partnership but either way he was onto something so I will tip my cap.  Great news, momentum building.

Partnership with a capital injection in return for equity. I.e you can use our 50m dollars but in return we own a % of your company.

Depends on what that % is... 

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3 minutes ago, Babelly said:

he said acquisition, this is a partnership but either way he was onto something so I will tip my cap.  Great news, momentum building.

Well, they can potentially will acquire up to a 10% stake in the company!!

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1 minute ago, Campo said:

Partnership with a capital injection in return for equity. I.e you can use our 50m dollars but in return we own a % of your company.

Depends on what that % is... 

This quote is from Fortune:

Quote

Under the terms of the deal, Ripple will pay $4.10 cents a share to acquire an 8% to 10% stake in MoneyGram. This translates into a $30 million investment, and also gives MoneyGram the option for another $20 million cash infusion in the next two years.

 

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