Saturday, 20 January, 2018

Ripple (XRP) and MoneyGram (NASDAQ: $MGI) Partner to Modernize Payments

Bitcoin price Ripple price Binance Warren Buffet CNBC•BLOOMBERGBitcoin has divided Wall Street heavy-weights
Preston Stone | 11 January, 2018, 23:31

Moneygram will make use of XRP in their payment flows for quicker, cheaper transfer of money.

Ripple suggested the blockchain ‎project could eventually be extended worldwide.‎ The company said in a tweet last week that three of the top five money transfer companies worldwide will be implementing Ripple's XRP token in their payment flow systems in 2018.

XRP is one of the most efficient digital assets for payments, with its transaction fees at just fractions of a penny, which compares to bitcoin fees of about $30 per transaction. The firm also boasts average transaction times for XRP of two to three seconds.

"The inefficiencies of global payments don't just affect banks, they also affect institutions like MoneyGram".

Ripple, created by the founder of bitcoin exchange Mt Gox, has risen 31,000 percent over the past year, overshadowing bitcoin's 1,200 percent increase. Consumers don't have any reason to be loyal to one payment transfer company and so, if a competitor uses advanced technology promising a 4-second transfer, customers would flock and the payment companies will lose the business.

Bruce Arians 'just messing' around with talk of Nick Saban to Giants
The architect of Alabama's current dynasty coached the Miami Dolphins to two unremarkable seasons before returning to college. However, a source told the New York Post's Paul Schwartz that Saban is not interested in leaving Alabama for the Giants .

Whether this will come to pass is debatable and was the subject of a heated Twitter spat between New York Times journalist Nathaniel Popper and Ripple chief Brad Garlinghouse.

Commenting on this, Alex Holmes, CEO of MoneyGram, said: ‎"Ripple is at the forefront of blockchain technology and we look forward to ‎piloting xRapid". Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.

Ripple rose 10 percent Thursday after news that its San Francisco-based ‎startup has partnered with global money transfer company MoneyGram to ‎utilize its blockchain technology.‎.

According to a press release, MoneyGram will test Ripple's xRapid service due to its claimed speed and cost efficiency.

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