Jump to content
mistatee2000

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

Recommended Posts

6 minutes ago, ADingoAteMyXRP said:

From the horse's mouth:

"The partnership with Ripple will focus on the xRapid product..." https://ripple.com/insights/ripple-announces-strategic-partnership-with-money-transfer-giant-moneygram/

Such great incredible news :D we may be on our way...

“As the payments industry evolves and matures, it’s imperative that we continue to improve our platform and provide the most effective solution to get funds from point A to point B,” said Alex Holmes, MoneyGram Chairman and CEO. “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

"MoneyGram operates globally in the $600 billion global remittance market, serving millions of customers in more than 200 countries and territories, supporting multiple currencies. Today, MoneyGram relies on traditional foreign exchange markets to meet its settlement obligations, which require advance purchases of most currencies. Through this strategic partnership, MoneyGram will be able to settle key currencies and match the timing of funding with its settlement requirements reducing costs, improving its balance sheet efficiency and reducing risk."

(bold emphasis is mine)

Edited by GiddyUp
smiley

Share this post


Link to post
Share on other sites
29 minutes ago, cmbartley said:

This is really significant. Forgetting about the price of XRP for a moment, Larsen has been saying for years, "imagine if money could move like information". One barrier has been that the traditional/legacy repositories of capital have refused to trial digital asset rails at scale. This partnership suggests that a sea change is around the corner. My rent check took 10 days to settle last week, 10 days! Hopefully this a sign that those days will soon be behind me.

If you have any significant amount of XRP’s you won’t have to pay rent anymore :)

Share this post


Link to post
Share on other sites
3 minutes ago, ScroogeMcDuck said:

I'm surprised we haven't gone to zero on this news :D

So basically, Ripple bought a lot of Moneygram stock. Incidentally, Moneygram will use XRP because why not? 

I think the market is reacting appropriately at only a modest rise. Or maybe things have not sunk in yet? The implications, etc.?

Share this post


Link to post
Share on other sites
40 minutes ago, Zedy44 said:

I hope people haven’t forgotten that MGI has an exclusive partnership with Walmart. We basically just bagged Walmart indirectly for the time being.

Imagine all the signs in every Walmart: "Runs on Ripple". This could be the beginning of everybody getting exposed to Ripple and XRP!

Share this post


Link to post
Share on other sites

This is great news. Moneygram was already a Ripplenet partner. How is this partnership announced today different? Is it different in that MG is contractually obligated to use XRP regularly, whereas other Ripplenet partners have the option to use Ripplenet?

Share this post


Link to post
Share on other sites
2 minutes ago, XRPboi said:

This is great news. Moneygram was already a Ripplenet partner. How is this partnership announced today different? Is it different in that MG is contractually obligated to use XRP regularly, whereas other Ripplenet partners have the option to use Ripplenet?

The news from 2018 was just an xrapid pilot . This seems like mg going full xrapid :)

Share this post


Link to post
Share on other sites
23 minutes ago, WillGetThere said:

Can't wait for Asia to wake up. Currently 06:26 am...

We are awake - Japan that is! I got in a few 1000 extra xerps just before take off.

While the short term implications of this partnership are great, think long term. MG will be at the frontline for the real world use case for the masses. The financial industry and others like MG will want in big time.

Enjoy the ride, gonna be interesting!

Edited by Tokyoliving

Share this post


Link to post
Share on other sites
Just now, VanGogh said:

Imagine all the signs in every Walmart: "Runs on Ripple". This could be the beginning of everybody getting exposed to Ripple and XRP!

If MG stock is up by 43% and can hold, that would be something very new on Wall St.

<installs MG ticker on home screen>

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...