Moneygram and Ripple Partner to speed up Transactions

Moneygram and Ripple Partner to speed up Transactions

The partnership is meant to pilot XRP (Ripple) in MoneyGram's payment flows.

Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. Moreover, Ripple charges about a penny compared to a transaction fee of nearly $30 that Bitcoin charges.

XRP is fast too. MoneyGram has shown great trust in Ripple and has stated that Ripple's average transaction time of 2 to 3 seconds is considerably lower than other major cryptocurrencies. Instead, by using XRP Moneygram can directly transfer funds from one country to another instead.

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.

A 21-Year-Old Bodybuilder Suddenly Died From Flu Complications
At the time, he simply lay down to rest, thinking he'd be okay in a few hours and that it was just a case of the flu. Flu often just leaves sufferers feeling sick and riddled with a constant cough and runny nose.

Super Mario Odyssey gets Free Hide-and-Seek Multiplayer DLC
Luigi will spawn in set locations in every Kingdom and will offer the player one of two options: Hide a Balloon or Find a Balloon. As you'd expect, in "Find It", players will have the opportunity to find balloons placed by other players in their own game .

Citing New Tax Law, Walmart To Raise Starting Wages, Expand Parental Leave
Wal-Mart is the largest private employer in the world with 2.2 million employees, including more than 1.5 million in the U.S. Walmart said it was still assessing new United States tax rules and "potential additional investments".

Alex Holmes, Chief Executive Officer of MoneyGram, said, "Every day blockchain technology is changing the norm and encouraging innovation". By using a digital asset like XRP that settles in three seconds or less, they can now move money as quickly as information, " said Ripple boss Brad Garlinghouse. "We're hopeful it will increase efficiency and improve services ‎to MoneyGram's customers."‎.

Ripple created its virtual currency to allow banks to send client money on its network from Paris to Tokyo, for example, in a matter of minutes rather than days. This led to a major pump in the price of the currency as Ripple prices raced to nearly $2.2 from $1.5.

Ripple was more appealing than Bitcoin to Moneygram because of Bitcoin's fees.

International Payments is a multi-billion dollar industry and the current way of using a centralized authority who hold enough foreign reserves to be able to facilitate the cross-border transfers is very inefficient considering the time and cost involved. 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.

Related Articles

  • "Dark Souls: Remastered" Revealed for Switch, PS4, Xbox One, and PC

    The game will also include the original DLC as well, meaning players will also get the Artorias of the Abyss DLC included. This is in addition to the Nintendo Switch version of Dark Souls Remastered revealed during the surprise Direct event.
    Eagles to play Jaguars in London in 2018 regular season

    Eagles to play Jaguars in London in 2018 regular season

    Philadelphia has yet to appear in a London game since the National Football League began sending teams overseas in 2007. The Eagles were among the six teams yet to play overseas , along with the Seahawks and Titans .
    Bears hire Mark Helfrich as offensive coordinator

    Bears hire Mark Helfrich as offensive coordinator

    According to a report Thursday morning from ESPN's Adam Schefter , the Chicago Bears have hired Helfrich as offensive coordinator. Nagy said he will call the plays and the offense will be his design but Helfrich will obviously have plenty of influence.
  • Prolific hacker from OH  indicted, developed 'Fruitfly' malware to spy on thousands

    Prolific hacker from OH indicted, developed 'Fruitfly' malware to spy on thousands

    The investigation determined that Durachinsky had infected computers at other universities and institutions from 2003 to 2017. Durachinsky also purportedly used stolen login credentials to access and download information from third-party websites.
    Dem Lawmakers Plan To Wear Black AT SOTU To Support #MeToo

    Dem Lawmakers Plan To Wear Black AT SOTU To Support #MeToo

    She was, after all, the one to come forward and uncover the pervasive sexual misconduct in Congress. Earl Blumenauer (Ore.) announced last week that he would be boycotting Trump's address altogether.
    Conor McGregor vs. Sir Richard Branson, Shirtless! Need We Say More?

    Conor McGregor vs. Sir Richard Branson, Shirtless! Need We Say More?

    Two weeks ago, UFC President Dana White admitted that McGregor was pushing hard to get back in the boxing ring with Mayweather. McGregor posted a photo of the face-off to his 22million followers on Instagram with the caption 'Face off with Mr.
  • Nintendo Direct Mini January 2018: Every Nintendo Switch Game Announced

    Nintendo Direct Mini January 2018: Every Nintendo Switch Game Announced

    Payday 2 - Dark Souls may be a surprisingly mature addition to Nintendo's library, but it's not quite as surprising as Payday 2 . Nintendo revealed some new content for Mario + Rabbids: Kingdom Battles that introduces Donkey Kong as a playable character.
    Lamborghini Urus launched in India for Rs 3 crores

    Lamborghini Urus launched in India for Rs 3 crores

    It has massive 440 mm front and 370 mm rear carbon ceramic brakes giving a great breaking system to the vehicle. The new Urus, the first SUV to come out from the Lamborghini stable, was globally launched last month.
    Meltdown and Spectre patches leave some Ubuntu systems unbootable

    Meltdown and Spectre patches leave some Ubuntu systems unbootable

    As a last resort, rolling back to kernel image 4.4.0-104 also fixes the boot issues for affected users. However, it's known that the new kernel update is not fixing problems for all users.
  • Mario Tennis Aces Heading To The Switch In Spring 2018

    The Direct also includes details on updates for Super Mario Odyssey , Mario & Rabbids: Kingdom Battle , and Pokken Tournament . Today's Mini Nintendo Direct gave fans a lot of surprises-Hyrule Warriors for Nintendo Switch was one of the biggest.
    Joe Arpaio still thinks President Obama's birth certificate is 'phony'

    Joe Arpaio still thinks President Obama's birth certificate is 'phony'

    Arpaio compared deporting Dreamers to the Peace Corps, and implied that he would accept them returning to the USA legally. Arpaio served as sheriff of Maricopa county in Arizona for 24 years before he was voted out of office in 2016.
    UK's nuclear weapons vulnerable to a cyberattack, think tank warns

    UK's nuclear weapons vulnerable to a cyberattack, think tank warns

    Nuclear weapons are at threat from hostile states, criminal groups and terrorist organizations, the report says. There is a high chance that hackers will break into sophisticated nuclear systems, the organisation added.