This is a good news for all ripple supporters, it crossed another mile by partnership with MoneyGram. MoneyGram banking solution settle cross border payment. Since ripple is the most trusted and efficient crypto payment solution to settle a transaction with in 2-3 seconds and it’s transaction charges also very low, moneygram decided to use it as currency to settle cross-border payment.
“The inefficiencies of global payments don’t just affect banks, they also affect institutions like MoneyGram. Money transfer companies are incredibly important because they help people get money to their friends and loved ones. We are excited about this pilot and a long-term strategic partnership with MoneyGram. By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information.” said Brad Garlinghouse, CEO of Ripple.
The news cause the sudden surge in price value of ripple in major exchanges. After a huge drop in price value ripple again trending up to recover it’s market cap.
The official release available on moneygram website: http://ir.moneygram.com/releasedetail.cfm?ReleaseID=1054088