Tuesday, 16 January, 2018

MoneyGram trials Ripple's XRP digital currency

Prices as of 23.59 WTC 10/01/2017 Prices as of 23.59 WTC 10/01/2017
Orlando Vargas | 11 January, 2018, 23:33

Money transfer companies, like MoneyGram, allow people to safely and efficiently send cross-border payments to friends, families and business partners.

News of the deal saw MoneyGram's share price rise as much as 10%, to $13.39 in morning trading, before settling down to $12.72 at pixel time.

Blockchain firm Ripple will be partnering with USA money transfer service, MoneyGram, to test out payment flows of XRP, Ripple's native cryptocurrency, the companies announced today.

The partnership will see MoneyGram pilot the use of XRP through a new Ripple service, called xRapid, created to provide liquidity to financial institutions.

MoneyGram says that blockchain, the technology that powers digital currencies, has the potential to revolutionize its current money transfer process, which requires pre-funded accounts to fulfill transfers.

Five women accuse James Franco of sexual misconduct or inappropriate behavior
I don't know", Franco said. "I think, well, the ones I read were not accurate", the actor said. He said he had used "bad judgment" and had "learned my lesson".


Google Acquires Redux, a Startup That Integrates Speakers into Smartphone Displays
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Protests against child rape, killing continue
The violence erupted in the city of Kasur hours before the funeral of Zainab Ansari , whose case has drawn wide public outrage. No one has yet been arrested, although pictures were circulating on social media showing a bearded man hand in hand in Zainab.


MoneyGram's CEO Alex Holmes added he hopes the partnership will "increase efficiency and improve services" to its customers faster and he believes blockchain technology overall is "changing the norm and encouraging innovation". Similarly, the average transaction time for XRP is two or three seconds, with other top digital assets ranging from 15 minutes to an hour.

Ripple's MoneyGram partnership fits in nicely with its big play to become the crypto payment solution of choice not just on the web, but also through brick-and-mortar transfer providers.

The move is significant because the arrangement involves the use of XRP, Ripple's digital currency, which has recently soared in value but also faced questions about its practical uses. Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid.

According to a press release, MoneyGram will test Ripple's xRapid service due to its claimed speed and cost efficiency. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them.

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