Sirwin
Sirwin

MoneyGram has managed $ 100m in cross-border transactions using XRP for the past six months

By Roberto D. | CryptoFarm | 20 Dec 2019


The feeling is that over time MoneyGram and Ripple are destined to become a single company, if they are not already, given that the R3 consortium platform has recently completed the acquisition of around 50 million dollars of MoneyGram shares at following the partnership signed at the beginning of the year, in any case the interview given by Alex Holmes (CEO of the famous money transfer) did nothing but reinforce this feeling; hosted by CNN during First Move, during which it was interviewed by Julia Chatterley, the CEO of MoneyGram publicly sang ripple praises and went so far as to say that probably this platform is now close to replacing Swift and that, at the very least, has the potential to do it. Honestly, to ask Holmes what you think of ripple is a bit like asking the innkeeper if the wine is good, but the figure, naked and raw, of $ 100m of cross-border transactions managed by MoneyGram using the liquidity system remains request (ODL) of ripple; in short, we do not know if ripple will actually replace SWIFT, but we know for sure that it is gaining ever larger shares of the market for immigrant workers' transactions, the ones we usually call remittances.

It is however always true that there is at least one other great player that is competing for this same market segment with ripple, let's talk about stellar, however it seems that the two companies are concentrating on two different fronts, while ripple is working hard on the markets in Latin America and Southeast Asia, in fact, stellar seems more oriented to take root in the African continent; the two projects, therefore, could easily find a way to coexist and I would not exclude that in the near future this market will also expand to new platforms. It remains, with great disappointment to investors, that all this good news about ripple does not seem to be able to move the price of XRP, which indeed continues to suffer on the markets and whose prices are stuck in a long bearish cycle that has been going on for over a year, which inevitably reinforces the voices of detractors who have long claimed that the right value of this token is zero. However you want to see it on ripple you have to admit that the team is moving very well on several fronts, like the various strategic partnerships with the main money transfer market (RIA and MoneyGram on all) demonstrate; and this regardless of the fact that ripple actually manages, in the near future, to replace SWIFT in the management of cross-border payments globally.

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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