Moneygram soars after announcing Ripple partnership

Ripple price spikes after announcement of Money Gram partnership

Following the announcement of this news, Ripple has once again begun to grow it's price.

The company today said it has signed a deal with MoneyGram International Inc.to try out XRP as a way to facilitate international transfers. Dragging it down were concerns that it was overbought and criticism of Ripple's centralized business model, which stands in stark contrast to the decentralization that is key to bitcoin, Ethereum and many other digital currencies.

The mercurial rise of XRP over the past month was a sight to behold, hitting the $1 (USD) mark near the end of December before crashing through both $2 and $3 dollars within a week - only to pull back to Earth over the last few days.

Ripple is focused on fixing the inefficiencies and problems that exist in cross-border payments, regardless of whether those payments originate with a bank, corporate or another financial institution. Under the Basel III regime, these reserves count against banks as balance-sheet assets, forcing them to hold even more cash to cover their supposed liabilities.

The goal of the pilot is to "move money as quickly as information", Brad Garlinghouse, CEO of Ripple, said in a statement. That makes the process for payments costly and slow.

US Ambassador to Netherlands Dodges 'No-go Zones' Questions
After repeatedly being questioned on the same, Hoekstra termed the remark, which made headlines in 2015, as " fake news". Wednesday's press conference was not Hoekstra's first awkward exchange with a Dutch reporter.

MoneyGram, a major player in the $600-billion-a-year remittance market, is similarly afflicted. Fees would be lower and the payment flows more transparent.

We're excited to announce our new partnership with @Ripple!

"Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid", said Alex Holmes, chief executive officer of MoneyGram, in a press release.

Pleasingly for XRP holders, this news managed to offset the major declines being faced by other cryptocurrencies due to reports that South Korea is preparing a bill to ban cryptocurrency trading.

Ripple has been the subject of much discussion since early December when XRP began to soar exponentially to momentarily become the cryptocurrency with world's second largest market cap at more than $120bn but had since fallen by more than half.

Related News:

  • New Domino's CEO Allison Will Face Challenges in Post-Doyle Era

    New Domino's CEO Allison Will Face Challenges in Post-Doyle Era

    Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. It dived, as 39 investors sold DPZ shares while 105 reduced holdings. 142 funds opened positions while 524 raised stakes.
    Microsoft rolls out end-to-end encryption for Skype Insider conversations

    Microsoft rolls out end-to-end encryption for Skype Insider conversations

    Starting today, Skype is testing out a new feature called Private Conversations that delivers end-to-end encryption to your chats. Up next, we'd like to improve the UX around the invite to join a private conversation and bring the experience to the UWP client.

    Super Mario Odyssey to get free Luigi's Balloon World downloadable content pack

    In the " hide it " mode, you race against the 30-second timer to conceal balloons in the hardest to find places on the board. But for those still enjoying their adventures with Cappy in Super Mario Odyssey , there's a little something for you as well.
  • RB Leipzig will resist Liverpool's attempts to get Naby Keita in January

    RB Leipzig will resist Liverpool's attempts to get Naby Keita in January

    Mascherano is most likely to leave first however, with Chinese Super League club Hebei China Fortune closing in on a deal. I came here to push myself and Liverpool is a club that is looking to go and do good things. "It happened at Liverpool ".
    Wahlberg Earned 1500 Times More Than Williams For Doing The Same Work

    Wahlberg Earned 1500 Times More Than Williams For Doing The Same Work

    Actors pay a team of agents, managers and lawyers an average of 10% of their salaries to advocate for them. Williams seems to have decided that, of these two ideas, the former was more important.
    Women Accuse James Franco Of Sexual Misconduct

    Women Accuse James Franco Of Sexual Misconduct

    The actor said he believes women's claims deserve to be heard and that he would not "actively refute" the allegations against him. Franco spoke with Colbert Tuesday night about claims on social media, some of which were from women also interviewed by the L.A.
  • House Approves More FISA Spying… Can The Senate Stop Them?

    House Approves More FISA Spying… Can The Senate Stop Them?

    On Wednesday evening, the White House put out a statement expressing the administration's opposition to the bipartisan effort. Privacy advocates in Congress objected to the measure, but failed in their attempt to amend with legislation written by Rep.
    7 new E. coli cases; continue avoiding romaine lettuce

    7 new E. coli cases; continue avoiding romaine lettuce

    It says the likely source of the US outbreak appears to be leafy greens but they haven't identified which type yet. It's also important to avoid preparing food when you are sick, particularly if you are sick with diarrhea.
    Camila Cabello Opens Up About Keeping The Meaning Behind Her Songs Secret

    Camila Cabello Opens Up About Keeping The Meaning Behind Her Songs Secret

    And the girl who the shade was allegedly aimed at definitely agrees that it had less-than positive motives. Camila Cabello has spoken out about an infamous moment during Fifth Harmony's 2017 MTV VMA performance.
  • Word most used to describe Trump's first year? Disaster

    Word most used to describe Trump's first year? Disaster

    The November 21 national poll found 60% of US women say they've been sexually harassed; Trump job approval still stuck below 40%. More damning, however, Quinnipac said 49 percent of voters credit former President Barack Obama , not Trump, for the success.
    ARMAGEDDON? Walmart to RAISE US WAGES After GOP Tax Cuts

    ARMAGEDDON? Walmart to RAISE US WAGES After GOP Tax Cuts

    It's also worth putting those actual benefits in context. " Walmart is doing everything they can to become a benefactor of that". It did not disclose how many people would lose their jobs, but said some workers may be placed at other Walmart locations.
    Trump questions taking immigrants from 'shithole countries'

    Trump questions taking immigrants from 'shithole countries'

    White House Deputy Press Secretary Raj Shah was quick with an explanation, which notably didn't contain a denial. Orrin Hatch, R-Utah, meanwhile, said he would like a " more detailed explanation" of Trump's comments.


Most liked

Is Oprah really a viable presidential candidate — IAN HART
While he supports the idea of Winfrey running, it would also punctuate how Trump's candidacy has altered political norms. Actors and actresses wore black to protest the sexual harassment that has been in the news for past several months.

Tax law implementation to cost IRS almost $500 million
Treasury would achieve that, the lawmakers surmised in the letter, by pushing the IRS to change its formula for withholdings. Yahoo Finance ran the numbers and found a net drop in tax withheld in each of 11 income categories we examined.

Prince William Still Waiting for Harry to Pick Him for Best Man
William and Kate's wedding party was publicly announced in February 2011 , almost two months before their April 29 wedding. Prince Harry meets radio DJ Remi Aderemi, 24, during a visit to Reprezent 107.3FM community radio station in Brixton.

Salvadorans next for United States deportation machine
Their oldest child, Arianna, 17, an employee of The Press, will live with neighbors in Brentwood and hopes to attend U.C. The family has also recently appeared on NPR and Buzzfeed. "It's time to think what other options we have", she said.

Nintendo announces Hyrule Warriors: Definitive Edition for Nintendo Switch
Nintendo being Nintendo, the game still comes with two-player co-op, but players can utilize spit Joy-Cons to play together. Payday 2 will release in Europe and Australia on February 23rd, and in North America and South America on February 27th.

White House responds to ruling on young immigrants program
Roberts Jr. asked Sanders about the scramble to clarify Trump's position, and Sanders acted like nothing unusual had happened. The president, she said , has been following the topic and "wanted to put something out".

The Trump administration's Medicaid announcement isn't really about 'work'
While more than 74 million people are enrolled in Medicaid, only a small fraction would be affected by the work requirement. Most who are not report reasons such as illness, caring for a family member or attending college.

Myanmar army admits Rohingya killings
The Defense Ministry said it will take action against the perpetrators involved in those killings and those in charge of security forces in the Rakhine State.

DeMarco Murray ruled out vs. Patriots
Brady declined to touch on his new documentary series set to drop on Facebook in the coming months, "Tom vs". And after the game Saturday night, News 2 will also air a Titans Live Postgame Special immediately after.

Brexit could cost 500000 United Kingdom jobs
Khan said: "This independent analysis reveals the potential economic risks, and human costs, at stake in the negotiations". Both the London mayor and Cambridge Econometrics admit that this analysis is not a precise forecast of what will happen.

Oh, Christmas Tree! Woman Gets Refund For Dead Tree
California Woman Returns Christmas Tree For A Refund She showed up at Costco and demanded a full refund because her tree was dead. While many of us were trying to figure out where to discard our Christmas trees, one woman chose to return hers.

UCF fans fund billboard challenging Alabama to a battle of national champions
Instead, the Crimson Tide under Nick Saban have shifted to playing marquee season-opening non-conference games at neutral sites. Next year, Alabama will play Louisville, Arkansas State, UL Lafayette and The Citadel in non-SEC competition.

Mother of black child in 'racist' H&M ad speaks out
We want to live in a society where we do not see people as one race or another; we want to be colour-blind, so to speak. Therefore, we have not only removed the image from our channels, but also the garment from our product offering.

Kellyanne Conway Insists 'Nobody' at White House Talks About Hillary Clinton
President Donald Trump has made it abundantly clear that he is not done talking about his former opponent, Hillary Clinton . Kellyanne Conway's feud with Chris Cuomo is apparently one she is not keen to let go of.

Honda Insight hybrid prototype revealed ahead of Detroit motor show
The new Insight will feature a 1.5-liter Atkinson-cycle engine paired with an electric motor and lithium-ion battery pack. The 2019 Insight will be manufactured at Honda's Greensburg, Indiana plant, alongside the Civic and CR-V.