Ripple has completed its $ 50mln investment in MoneyGram

By Roberto D. | CryptoFarm | 2 weeks ago

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The news dates back to last June and many had hoped it could serve to favor the reversal of the downward trend of XRP which, instead, continued for months; yesterday, therefore, MoneyGram made official by means of a press release that the 50 million dollar investment by ripple in what remains one of the main money transfer market ended with the payment of the last 20mln tranche of dollars. Ripple bought the newly issued capital from MoneyGram at $ 4.10 per share (currently the shares are traded at $ 3), on the other hand MoneyGram will be able to withdraw up to $ 50m in XRP which it can use through RippleNet (which recently has merged into itself the three payment services xCurrent, xVia and xRapid in a single service called On-Demand Liquidity).

Meanwhile, last month Brad Garlinghouse, CEO of Ripple, had already announced that MoneyGram started using On-Demand Liquidity for payments in the Philippines and that the use of the network in payment processing would soon be extended to Europe and Australia. Ripple entered the money transfer market in an overbearing manner through close strategic partnerships with two of the main players in the sector, not only MoneyGram but also Ria, which, in turn, also manage the service offered by Walmart and therefore will be the Ripple network to manage the money transfer ordered by clients of the well-known US retail chain. All this, for now, does not seem to have affected the price of XRP, but there is to be sure that over time the demand for this token will rise significantly, causing a spike in prices.

Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015


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